Terms Used In New York Laws > Retirement and Social Security > Article 4-A - Investments of Public Pension Funds

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Contract: A legal written agreement that becomes binding when signed.
• conventional mortgage: as used in this article four-a, shall mean (a) any single bond and mortgage or note and mortgage constituting a first lien upon real estate (including leasehold estates), not insured by the federal housing administrator or any of his successors in office or guaranteed by the United States under the provisions of the national housing act, as amended or supplemented, (b) first mortgage bonds issued under an indenture of mortgage and deed of trust, constituting a first lien upon real estate (including leasehold estates), and issued to a corporate trustee authorized to act as such in this state and approved by the fund. See N.Y. Retirement and Social Security Law 176
• 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.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Fiduciary: A trustee, executor, or administrator.
• fiduciary-controlled entities: shall mean the common retirement fund, state teachers retirement fund, state insurance fund and state deferred compensation plan. See N.Y. Retirement and Social Security Law 176
• fund: as used in this article four-a, shall mean any public retirement system or pension fund which grants retirement or pension benefits to employees of the city of New York, employees of the state of New York, employees of any department or agency of the city of New York or the state of New York, and employees of any municipality or other participating employer participating in the New York state and local employees' retirement system or the New York state and local police and fire retirement system. See N.Y. Retirement and Social Security Law 176
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• insured mortgage: as used in this article four-a, shall mean any single bond and mortgage or note and mortgage constituting a first lien upon real estate (including leasehold estates), insured by the federal housing administrator or any of his successors in office and guaranteed by the United States under the provisions of the national housing act, as amended or supplemented. See N.Y. Retirement and Social Security Law 176
• 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.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}
• 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.
• 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.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Summons: Another word for subpoena used by the criminal justice system.
• Trustee: A person or institution holding and administering property in trust.