N.Y. General Business Law 570 – Definitions as used in this article
§ 570. Definitions as used in this article. 1. "Trading stamp" means any stamp or similar device issued in connection with the retail sale of merchandise or service, as a cash discount or for any other marketing purpose, which entitles the rightful holder, on its due presentation for redemption, to receive merchandise, service or cash. "Trading stamp" shall not mean any redeemable device used by the manufacturer or packer of an article in advertising or selling it, or any redeemable device issued and redeemed by a non-profit membership corporation for the benefit of its members only, or any redeemable device issued and redeemed by a newspaper, magazine or other publication.
Terms Used In N.Y. General Business Law 570
- 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.
- 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 any individual, partnership, corporation, association or other organization. See N.Y. General Business Law 570
- Secretary: means the secretary of state. See N.Y. General Business Law 570
2. "Trading stamp company" means any person engaged in distributing trading stamps for retail issuance by others, or in redeeming trading stamps for retailers, in any manner.
3. "Person" means any individual, partnership, corporation, association or other organization.
4. "Secretary" means the secretary of state.