Terms Used In New York Laws > Labor > Article 31 - New York Professional Employer Act

• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Client: means a person who enters into a professional employer agreement with a professional employer organization. See N.Y. Labor Law 916
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• Fiduciary: A trustee, executor, or administrator.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
  • You are late making a payment or commit some other default, triggering an increase to a penalty rate
  • The bank changes the terms of your account and you do not reject the change.
  • The rate expires (if the rate was fixed for only a certain period of time).
• Instrument: means a negotiable instrument. See N.Y. Uniform Commercial Code 3-102
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• order: is a direction to pay and must be more than an
  
  authorization or request. See N.Y. Uniform Commercial Code 3-102
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means an individual, an association, a company, a firm, a partnership, a corporation, or any other form of legally recognized entity. See N.Y. Labor Law 916
• Professional employer agreement: means a written contract whereby:
  
  (a) A professional employer organization expressly agrees to co-employ all or a majority of the employees providing services for the client;
  
  (b) The contract is intended to be on-going rather than temporary in nature;
  
  (c) Employer responsibilities for worksite employees, including those of hiring, firing and disciplining, are expressly allocated by and between the professional employer organization and the client in the agreement; and
  
  (d) The professional employer organization expressly assumes the rights and responsibilities as required in section nine hundred twenty-two of this article. See N.Y. Labor Law 916
• Professional employer organization: means any person whose business is entering into professional employer agreements with clients. See N.Y. Labor Law 916
• promise: is a n undertaking to pay and must be more than an
  
  acknowledgment of an obligation. See N.Y. Uniform Commercial Code 3-102
• Statute: A law passed by a legislature.
• Temporary help firm: means a business which recruits and hires its own employees, and assigns those employees to perform work at or services for other organizations, to support or supplement the other organization's workforce, or to provide assistance in special work situations such as, but not limited to, employee absences, skill shortages, seasonal workloads, or to perform special assignments or projects. See N.Y. Labor Law 916
• Worksite employee: means a person having an employment relationship with both the professional employer organization and the client. See N.Y. Labor Law 916