2006 New York Code - Definitions.

 
    §  500.  Definitions.   When used in this article, the following terms
  shall have the following meanings:
    1. (a) "Corporation" shall mean any corporation (other than  a  public
  corporation  as  defined  in  paragraph  (b) of this subdivision), joint
  stock company,  association  of  two  or  more  individuals,  committee,
  partnership,  investment company (as defined by, and which is registered
  under, an act of Congress of the United States entitled the  "Investment
  Company  Act  of  1940",  as amended), unit investment trust or business
  trust, whether or not for profit.
    (b) "Public corporation" shall mean any state and a public corporation
  as defined in section sixty-six of the  general  construction  law,  but
  shall  not  mean an agency or political subdivision of the United States
  or of a foreign nation.
    2. "Security" shall mean:
    (a) Any instrument issued by a corporation or  public  corporation  or
  any  entry  on  the  books  and  records  of  such corporation or public
  corporation  evidencing  an  obligation  to  make  any  payment  of  the
  principal  amount  of  a  debt  or of any increment due or to become due
  thereon; or
    (b) Any instrument issued by a corporation to evidence  a  proprietary
  interest  therein  or  any  intangible  interest  in  a  corporation  as
  evidenced by the books and records of the corporation except:
    (i) A policy of insurance issued by a mutual insurance corporation, or
    (ii) A share issued by a savings and loan association, a building  and
  loan association, or a credit union.
    For the purposes of this article, an industrial development bond or an
  industrial  revenue  bond  shall be deemed a security issued by a public
  corporation.
    3. "Domestic corporation" shall mean any corporation  organized  under
  the  laws  of this state or under the laws of this state and one or more
  other states  or  foreign  countries,  but  shall  not  mean  a  banking
  organization as defined in this chapter.
    4.  "Foreign  corporation"  shall mean any corporation organized under
  the laws of a state other than New York or under the laws of  a  foreign
  country and doing business in this state or authorized to do business in
  this state, but shall not mean a banking organization as defined in this
  chapter.      "Non-authorized   foreign   corporation"  shall  mean  any
  corporation organized under the laws of a  state  other  than  New  York
  which  is  neither  doing business nor authorized to do business in this
  state.
    5. "Fiduciary" shall mean any individual or any  domestic  or  foreign
  corporation  holding a security for a resident or receiving, as agent of
  a corporation or as holder of a security, any amount due  or  to  become
  due  a  resident as the holder or owner of a security but shall not mean
  any individual or corporation so acting by direction of a court  in  any
  case  where such court has not directed a distribution of such amount or
  security.
    6. "Resident" shall mean:
    (a) An individual domiciled in this state;
    (b) A domestic corporation;
    (c) A banking organization, as defined in section one hundred three of
  this chapter; and
    (d) This state and any public corporation organized under its laws.
    7. (a) "Amount" shall include, but is not limited  to,  any  dividend,
  profit  or  other  distribution,  whether in cash or securities, and any
  interest or other payment on or of principal, including the  cash  value
  of any security which has matured or has been called for full or partial
  redemption  or  is  payable to security owners or former security owners
  entitled  to  payments  as  the  result  of  a  merger,   consolidation,
  acquisition or conversion of any type.
    (b)  An  amount  is  deemed to be "distributable" or "payable" for the
  purposes of this article notwithstanding any requirement that a security
  or other instrument must be presented, exchanged or surrendered, or that
  an owner must affirmatively make any claim for  payment,  before  actual
  payment of such amount may be effected.
    8.  "Wages" shall include moneys payable, under contract or otherwise,
  for services rendered to a domestic or foreign corporation or fiduciary,
  including  but  not  limited  to  payment  of   salaries,   commissions,
  royalties,  expenses,  employee benefits, and insurance benefits payable
  by  a  corporation  pursuant  to  a  self-insurance  plan,  less  lawful
  deductions.