Terms Used In New York Laws > Banking > Article 6 - Savings Banks

• Acquittal:
  1. Judgement that a criminal defendant has not been proved guilty beyond a reasonable doubt.
  2. A verdict of "not guilty."
   
• Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
• Allegation: something that someone says happened.
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Amortization: Paying off a loan by regular installments.
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• 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.
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• Appraisal: A determination of property value.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Arraignment: A proceeding in which an individual who is accused of committing a crime is brought into court, told of the charges, and asked to plead guilty or not guilty.
• Arrest: Taking physical custody of a person by lawful authority.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
• Authorized expenditures: shall mean those expenditures determined by the commissioner to be reasonable and necessary for the adequate and proper enforcement of the provisions of this chapter, and for implementing an accident reporting system and vessel and related equipment anti-theft program and/or an "I love NY waterways" boating safety program and/or a boating noise level enforcement program. See N.Y. Navigation Law 79-A
• Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Bequest: Property gifted by will.
• Captive finance source: means any finance source that provides automotive-related loans, or purchases retail installment contracts or lease contracts for motor vehicles and is, directly or indirectly, owned, operated or controlled, in whole or in part, by a manufacturer, factory branch, distributor or distributor branch. See N.Y. Vehicle and Traffic Law 462
• Central business district: means the area described in section seventeen hundred four of this article for which tolls shall be charged for a vehicle's entry into or remaining in such district. See N.Y. Vehicle and Traffic Law 1703
• Central business district toll: means a toll charged for entry into or remaining in the central business district as described in section seventeen hundred four of this article. See N.Y. Vehicle and Traffic Law 1703
• Central business district tolling collection system: means the electronic system of collecting tolls or other charges using electronic data and/or images that the Triborough bridge and tunnel authority will plan, design, install and construct pursuant to the memorandum of understanding executed pursuant to subdivision two-a of section seventeen hundred four of this article, and that such authority shall operate as part of the central business district tolling program. See N.Y. Vehicle and Traffic Law 1703
• Central business district tolling customer service center: means the customer contact and back-office system and operation services for the collection of central business district tolls and enforcement of central business district toll violations that the Triborough bridge and tunnel authority will plan, design, implement and operate as part of the central business district tolling program. See N.Y. Vehicle and Traffic Law 1703
• Central business district tolling infrastructure: means the devices and structures including but not limited to gantries, clear signage delineating entry into the central business district and toll amounts, and power and communication lines that the Triborough bridge and tunnel authority will plan, design, construct, and use as part of the central business district tolling program. See N.Y. Vehicle and Traffic Law 1703
• Central business district tolling program: means the program for charging tolls for vehicles that enter or remain in the central business district and includes the central business district tolling infrastructure, the central business district tolling collection system and the central business district tolling customer service center. See N.Y. Vehicle and Traffic Law 1703
• chancellor: shall mean the chancellor of the city district. See N.Y. Education Law 2590-A
• Charitable purpose: means the relief of poverty, the advancement of education or religion, the promotion of health, the promotion of a governmental purpose, or any other purpose the achievement of which is beneficial to the community including any purpose that is charitable under the laws of the state of New York. See N.Y. Not-for-Profit Corporation Law 551
• City: means the city of New York. See N.Y. Vehicle and Traffic Law 1703
• city board: shall mean the board of education of the city district. See N.Y. Education Law 2590-A
• city district: shall mean the city school district of the city of New York. See N.Y. Education Law 2590-A
• Commercial driver: shall mean every person who is self-employed or employed by a commercial motor carrier and who drives a commercial motor vehicle for hire or profit. See N.Y. Vehicle and Traffic Law 509-P
• Commercial motor carrier: shall mean any person, corporation, or entity, who directs one or more commercial motor vehicles and who operates a commercial motor vehicle wholly within or partly within and partly without this state in connection with the operation or administration of any business. See N.Y. Vehicle and Traffic Law 509-P
• Commercial motor vehicle: shall mean a motor vehicle or combination of vehicles having a gross combination weight rating of more than ten thousand pounds used in commerce to transport property and it shall include a tow truck with a gross vehicle weight rating of at least eighty-six hundred pounds. See N.Y. Vehicle and Traffic Law 509-P
• Commissioner: includes the office and a branch office of the commissioner and, when authorized to receive a document or fee as agent of the commissioner, the clerk of a county. See N.Y. Vehicle and Traffic Law 2101
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• community board: shall mean the board of education of a community district. See N.Y. Education Law 2590-A
• community council: shall mean the community district education council of a community district established pursuant to section twenty-five hundred ninety-c of this article. See N.Y. Education Law 2590-A
• community district: shall mean a community school district created or to be created within the city district under the provisions of this article. See N.Y. Education Law 2590-A
• community superintendent: shall mean the superintendent of schools of a community district. See N.Y. Education Law 2590-A
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Consolidated corporation: means the new corporation in which two or more constituent corporations are consolidated. See N.Y. Not-for-Profit Corporation Law 901
• Consolidation: means a procedure of the character described in subparagraph (a) (2). See N.Y. Not-for-Profit Corporation Law 901
• Constituent corporation: means an existing corporation that is participating in the merger or consolidation with one or more other corporations. See N.Y. Not-for-Profit Corporation Law 901
• Continuance: Putting off of a hearing ot trial until a later time.
• Contract: A legal written agreement that becomes binding when signed.
• Conviction: A judgement of guilt against a criminal defendant.
• 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.
• Counterclaim: A claim that a defendant makes against a plaintiff.
• Cross examine: Questioning of a witness by the attorney for the other side.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Dealer: means a person registered as a dealer under section four hundred fifteen or twenty-two hundred fifty-seven of this chapter. See N.Y. Vehicle and Traffic Law 2101
• Decedent: A deceased person.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Default judgement: A judgement rendered because of the defendant's failure to answer or appear.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Dependent: A person dependent for support upon another.
• Devise: To gift property by will.
• Digital network: means any system or service offered or utilized by a transportation network company that enables TNC prearranged trips with transportation network company drivers. See N.Y. Vehicle and Traffic Law 1691
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Distributor: means any person who primarily offers, sells or distributes new motor vehicles to franchised motor vehicle dealers or maintains distributor representatives within the state. See N.Y. Vehicle and Traffic Law 462
• Distributor branch: means a branch office maintained by a distributor which offers, sells or distributes new motor vehicles to franchised motor vehicle dealers in this state. See N.Y. Vehicle and Traffic Law 462
• Docket: A log containing brief entries of court proceedings.
• Donor: The person who makes a gift.
• Donor: means the person who grants or transfers property to an institution pursuant to a gift instrument, or a person designated in the applicable gift instrument to act in the place of the donor, but does not otherwise include the person's executors, heirs, successors, assigns, transferees, or distributees. See N.Y. Not-for-Profit Corporation Law 551
• educational facilities: shall mean land and the improvements thereon for use in connection with any educational activity to be undertaken or provided by the city board or any community council or any facility attendant thereto or any facility necessary, useful or desirable in connection with such activity. See N.Y. Education Law 2590-A
• Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) ^{Source: OCC}
• Eligible governmental entity: shall mean the Lake George park commission or a county enforcing the provisions of this chapter and having an accident reporting system and vessel and related equipment anti-theft program and/or an "I love NY waterways" boating safety program and/or boating noise level enforcement program approved by the commissioner. See N.Y. Navigation Law 79-A
• emergency operation: shall include returning from emergency service. See N.Y. Vehicle and Traffic Law 501-A
• Endowment fund: means an institutional fund or part thereof that, under the terms of a gift instrument, is not wholly expendable by the institution on a current basis. See N.Y. Not-for-Profit Corporation Law 551
• 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.
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Executor: A male person named in a will to carry out the decedent
• External agent: means an independent investment advisor, investment counsel or manager, bank, or trust company. See N.Y. Not-for-Profit Corporation Law 551
• Factory branch: means a branch office maintained for directing and supervising the representatives of the manufacturer or which office is maintained for the sale of motor vehicles. See N.Y. Vehicle and Traffic Law 462
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
• Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
• 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).
• Forbearance: A means of handling a delinquent loan. A
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Franchise: means a written arrangement for a definite or indefinite period in which a manufacturer or distributor grants to a franchised motor vehicle dealer a license to use a trade name, service mark or related characteristic, and in which there is a community of interest in the marketing of motor vehicles or services related thereto at wholesale, retail, by lease or otherwise and/or pursuant to which a franchised motor vehicle dealer purchases and resells or offers (as agent, principal, or otherwise) products associated with the name or mark or related components of the franchise. See N.Y. Vehicle and Traffic Law 462
• Franchised motor vehicle dealer: means : (a) any person required to be registered pursuant to section four hundred fifteen of this title which has been granted a franchise as defined in subdivision six of this section, or (b) any person engaged in the business of selling snowmobiles, all terrain vehicles and/or personal watercraft at wholesale or retail who has been granted a franchise; provided, however, that any person primarily engaged in the sale of vessels and other marine items who meets the definition of "dealer" as provided in subdivision one of § 810 of the general business law shall not be a "franchised motor vehicle dealer" pursuant to this article. See N.Y. Vehicle and Traffic Law 462
• Franchisor: means any manufacturer, distributor, distributor branch or factory branch, importer or other person, partnership, corporation, association, or entity, whether resident or non-resident, which enters into or is presently a party to a franchise with a franchised motor vehicle dealer. See N.Y. Vehicle and Traffic Law 462
• Fraud: Intentional deception resulting in injury to another.
• Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Gift instrument: means a record or records, including an institutional solicitation, under which property is granted to, transferred to, or held by an institution as an institutional fund. See N.Y. Not-for-Profit Corporation Law 551
• Good faith: means , in addition to any common law definitions of that term, honesty in fact and the observation of reasonable commercial standards of fair dealing in the trade. See N.Y. Vehicle and Traffic Law 462
• Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
• Grantor: The person who establishes a trust and places property into it.
• Group policy: means an insurance policy issued pursuant to § 3455 of the insurance law. See N.Y. Vehicle and Traffic Law 1691
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• GVWR: shall mean the weight of a vehicle consisting of the unladen weight and the maximum carrying capacity recommended by the manufacturer of such vehicle. See N.Y. Vehicle and Traffic Law 509-P
• house coach: shall mean any vehicle motivated by a power connected therewith or propelled by a power within itself, which is designed to provide temporary living quarters, and which is built onto, as an integral part of, or is permanently attached to a motor vehicle chassis, and contains at least four of the following independent life support systems if each is permanently installed and designed to be removed only for purposes of repair or replacement and meets the standards of the American National Standards Institute for recreation vehicles:
  
  (a) a cooking facility with an on-board fuel source;
  
  (b) a gas or electric refrigerator;
  
  (c) a toilet with exterior evacuation;
  
  (d) a heating or air conditioning system with an on-board power or fuel source separate from the vehicle engine;
  
  (e) a potable water supply system that includes at least a sink, a faucet and a water tank with an exterior service supply connection; and
  
  (f) a 110-125 volt electric power supply. See N.Y. Vehicle and Traffic Law 462
• Identifying number: means the numbers, and letters if any, on a vehicle designated by the commissioner for the purpose of identifying the vehicle. See N.Y. Vehicle and Traffic Law 2101
• Implement of husbandry: means a vehicle designed and adapted exclusively for agricultural, horticultural or livestock raising operations or for lifting or carrying an implement of husbandry and in either case not subject to registration if used upon the highways. See N.Y. Vehicle and Traffic Law 2101
• 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}
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Institution: means : (1) a person, other than an individual, organized and operated exclusively for charitable purposes; (2) a trust that had both charitable and noncharitable interests, after all noncharitable interests have terminated; or (3) any corporation described in subparagraph five of paragraph (a) of section 102 (Definitions). See N.Y. Not-for-Profit Corporation Law 551
• Institutional fund: means a fund held by an institution. See N.Y. Not-for-Profit Corporation Law 551
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Intestate: Dying without leaving a will.
• Judgement: The official decision of a court finally determining the respective rights and claims of the parties to a suit.
• 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.
• Jurisprudence: The study of law and the structure of the legal system.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• 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.
• Lienholder: means a person holding a security interest in a vehicle. See N.Y. Vehicle and Traffic Law 2101
• Line make: means all models of a specific brand of motor vehicle manufactured by a manufacturer that may manufacture several brands, each of which are a separate line of make; except that, as such term applies to the sale of any new house coach, means that group or those groups of house coaches, as defined by the terms of the written franchise. See N.Y. Vehicle and Traffic Law 462
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• mail: means to deposit in the United States mail properly addressed and with postage prepaid. See N.Y. Vehicle and Traffic Law 2101
• Manufacturer: means any person, partnership, corporation, association, factory branch or other entity engaged in the business of manufacturing or assemblying new and unused motor vehicles for sale in this state. See N.Y. Vehicle and Traffic Law 462
• Markup: The process by which congressional committees and subcommittees debate, amend, and rewrite proposed legislation.
• member of the armed forces: shall include active duty military personnel; members of the reserve components of the armed forces; members of the national guard on active duty, including personnel on full time active guard duty, personnel on part-time national guard training, and national guard military technicians (civilians who are required to wear military uniforms); and active duty United States coast guard personnel. See N.Y. Vehicle and Traffic Law 501-A
• Merger: means a procedure of the character described in subparagraph (a) (1). See N.Y. Not-for-Profit Corporation Law 901
• military court: as used in this article , means a court-martial, a court of inquiry or a provost court. See N.Y. Military Law 223
• military service: means duty by a person, male or female, in the active military service of the United States as defined in section one of this chapter and active duty in the military service of the state pursuant to an order of the governor issued pursuant to section six or seven of this chapter. See N.Y. Military Law 301
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Motor vehicle: means : (a) any motor vehicle as defined in section one hundred twenty-five of this chapter, (b) any snowmobile as defined in article forty-seven of this chapter, (c) any all terrain vehicle as defined in article forty-eight-B of this chapter and (d) any personal watercraft as defined in § 2 of the navigation law, provided the commissioner shall have authority to except by regulation vehicles other than passenger automobiles, trucks and motorcycles from such definition. See N.Y. Vehicle and Traffic Law 462
• 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}
• New motor vehicle: means a vehicle sold or transferred by a manufacturer, distributor or dealer, which has not been placed in consumer use or used as a demonstrator. See N.Y. Vehicle and Traffic Law 462
• New motor vehicle product: means any motor vehicle which is of the same line make of motor vehicle as those which the franchisor has authorized its existing franchised motor vehicle dealers to sell under the existing franchises between franchised motor vehicle dealers and the franchisor. See N.Y. Vehicle and Traffic Law 462
• Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
• Notice: means information given by an institution as required by this article. See N.Y. Not-for-Profit Corporation Law 551
• Oath: A promise to tell the truth.
• 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.
• officer: as used in this article , means a commissioned officer, a commissioned warrant officer or a warrant officer. See N.Y. Military Law 223
• Operation date: means the date determined by the Triborough bridge and tunnel authority, which shall not be earlier than December thirty-first, two thousand twenty, for the beginning of the operation and enforcement of the central business district tolling program. See N.Y. Vehicle and Traffic Law 1703
• Oversight: Committee review of the activities of a Federal agency or program.
• Owner: means a person, other than a lienholder, having the property in or title to a vehicle. See N.Y. Vehicle and Traffic Law 2101
• 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.
• passenger: means a person or persons who use a transportation network company's digital network to connect with a transportation network company driver who provides TNC prearranged trips to the passenger in the TNC vehicle between points chosen by the passenger. See N.Y. Vehicle and Traffic Law 1691
• person: when used herein with reference to the holder of any right alleged to exist against a person in military service, or against a person secondarily liable under such right, shall include individuals, partnerships, corporations, and any other forms of business association. See N.Y. Military Law 301
• Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, or any other legal entity. See N.Y. Not-for-Profit Corporation Law 551
• Person: means a natural person, firm, co-partnership, association or corporation. See N.Y. Vehicle and Traffic Law 2101
• Personal property: All property that is not real property.
• Petty offense: A federal misdemeanor punishable by six months or less in prison. ^{Source: U.S. Courts}
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
• Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
• Pole trailer: means a vehicle without motive power designed to be drawn by another vehicle and attached to the towing vehicle by means of a reach, or pole, or by being boomed or otherwise secured to the towing vehicle, and ordinarily used for transporting long or irregularly shaped loads such as logs, poles, pipes, or structural members capable, generally, of sustaining themselves as beams between the supporting connections. See N.Y. Vehicle and Traffic Law 2101
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Probation officers: Screen applicants for pretrial release and monitor convicted offenders released under court supervision.
• Program year: shall mean the calendar year. See N.Y. Navigation Law 79-A
• project: shall mean , with respect to an educational facilities capital plan, (a) the performance, at a specified educational facility, of one or more program elements, as defined in paragraph a, b, c or d of subdivision two of section twenty-five hundred ninety-p of this article; or (b) the performance of the program elements defined in paragraphs f and g of such subdivision or any system replacement identified in paragraph e of such subdivision. See N.Y. Education Law 2590-A
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Quorum: The number of legislators that must be present to do business.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Recess: A temporary interruption of the legislative business.
• Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See N.Y. Not-for-Profit Corporation Law 551
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Relevant market area: means :
  
  (a) if the proposed additional or relocated motor vehicle dealer is to be located in a county having a population in excess of one hundred thousand, the area within the radius of six miles of the intended site of the proposed or relocated dealer. See N.Y. Vehicle and Traffic Law 462
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Security agreement: means a written agreement which reserves or creates a security interest. See N.Y. Vehicle and Traffic Law 2101
• Security interest: means an interest in a vehicle reserved or created by agreement and which secures payment or performance of an obligation. See N.Y. Vehicle and Traffic Law 2101
• Service of process: The service of writs or summonses to the appropriate party.
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Special mobile equipment: means a vehicle not designed for the transportation of persons or property upon a highway and only incidentally operated or moved over a highway, which if registered would be registered pursuant to schedule F of subdivision seven of section four hundred one of this chapter. See N.Y. Vehicle and Traffic Law 2101
• State: means a state, territory or possession of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or a province of the Dominion of Canada. See N.Y. Vehicle and Traffic Law 2101
• State aid: shall mean payments by the state to an eligible governmental entity in accordance with the provisions of this article. See N.Y. Navigation Law 79-A
• Statute: A law passed by a legislature.
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
• Subpoena: A command to a witness to appear and give testimony.
• Subpoena duces tecum: A command to a witness to produce documents.
• Summons: Another word for subpoena used by the criminal justice system.
• Surviving corporation: means the constituent corporation into which one or more other constituent corporations are merged. See N.Y. Not-for-Profit Corporation Law 901
• Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
• Testator: A male person who leaves a will at death.
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• TNC: means a person, corporation, partnership, sole proprietorship, or other entity that is licensed pursuant to this article and is operating in New York state exclusively using a digital network to connect transportation network company passengers to transportation network company drivers who provide TNC prearranged trips. See N.Y. Vehicle and Traffic Law 1691
• TNC driver: means an individual who:
  
  (a) Receives connections to potential passengers and related services from a transportation network company in exchange for payment of a fee to the transportation network company; and
  
  (b) Uses a TNC vehicle to offer or provide a TNC prearranged trip to transportation network company passengers upon connection through a digital network controlled by a transportation network company in exchange for compensation or payment of a fee. See N.Y. Vehicle and Traffic Law 1691
• TNC vehicle: means a vehicle that is:
  
  (a) used by a transportation network company driver to provide a TNC prearranged trip originating within the state of New York; and
  
  (b) owned, leased or otherwise authorized for use by the transportation network company driver;
  
  (c) such term shall not include:
  
  (i) a taxicab, as defined in section one hundred forty-eight-a of this chapter and section 19-502 of the administrative code of the city of New York, or as otherwise defined in local law;
  
  (ii) a livery vehicle, as defined in section one hundred twenty-one-e of this chapter, or as otherwise defined in local law;
  
  (iii) a black car, limousine, or luxury limousine, as defined in section 19-502 of the administrative code of the city of New York, or as otherwise defined in local law;
  
  (iv) a for-hire vehicle, as defined in section 19-502 of the administrative code of the city of New York, or as otherwise defined in local law;
  
  (v) a bus, as defined in section one hundred four of this chapter;
  
  (vi) any motor vehicle weighing more than six thousand five hundred pounds unloaded;
  
  (vii) any motor vehicle having a seating capacity of more than seven passengers; and
  
  (viii) any motor vehicle subject to section three hundred seventy of this chapter. See N.Y. Vehicle and Traffic Law 1691
• transient dwellings: shall mean and include hotels, lodging houses, boarding and nursery schools, sorority houses, fraternity houses, college and school dormitories, convalescent, old age and nursing homes, and dwellings used for single room occupancy. See N.Y. Multiple Residence Law 50
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Triborough bridge and tunnel authority: means the corporation organized pursuant to § 552 of the public authorities law as consolidated pursuant to § 552-a of the public authorities law or any successor corporation or corporation into which it may be consolidated. See N.Y. Vehicle and Traffic Law 1703
• trip: means the provision of transportation by a transportation network company driver to a passenger provided through the use of a TNC's digital network:
  
  (i) beginning when a transportation network company driver accepts a passenger's request for a trip through a digital network controlled by a transportation network company;
  
  (ii) continuing while the transportation network company driver transports the requesting passenger in a TNC vehicle; and
  
  (iii) ending when the last requesting passenger departs from the TNC vehicle. See N.Y. Vehicle and Traffic Law 1691
• Trustee: A person or institution holding and administering property in trust.
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• Usury: Charging an illegally high interest rate on a loan. ^{Source: OCC}
• Vehicle: means a vehicle as defined in section one hundred fifty-nine of this chapter except that it shall not include a device for which a registration is denied pursuant to section four hundred-a of this chapter and, except with respect to section twenty-one hundred two of this article, shall also mean a vessel as defined in section twenty-two hundred fifty of this chapter. See N.Y. Vehicle and Traffic Law 2101
• Venue: The geographical location in which a case is tried.
• Verdict: The decision of a petit jury or a judge.
• Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House.
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.