N.Y. Defense Emergency Act 1951 784/51 § 90: Definitions

§ 90. Definitions. 1. "Institution," when used in this article, shall

mean and include any banking organization or licensed lender within the

meaning of such terms as defined in section two of the banking law, any

branch or agency of a foreign banking corporation licensed to do

business in this state pursuant to article two of such law, any casher

of checks licensed pursuant to article nine-A of such law, any bank

holding company within the meaning of such term as defined in section

one hundred forty-one of such law, the New York business development

corporation created by article five-A of such law, the savings and loan

bank of the state of New York organized pursuant to article ten-B of

such law, any mutual trust investment company organized pursuant to

article twelve-A of such law, any fund as defined in subdivision two of

this section, and any branch or office of any institution.

2. "Fund," when used in this article, shall mean any fund established

pursuant to article six-B, article ten-A or article eleven-A of such

law, of which fund there is a board of individual trustees.

3. "Corporate institution," when used in this article, shall mean any

institution which is a corporation organized under the laws of the state

of New York and, insofar as the provisions of this article may

appropriately apply thereto, any fund.

4. "Charter," when used in this article, shall mean and include the

certificate of organization or incorporation or special law

incorporating a corporation together with its bylaws, or the agreement

establishing a fund.

5. "Acute emergency," when used in this article, shall mean a

condition in which, by reason of loss of life, epidemic disease,

destruction or damage of property, contamination of property by

radiological, chemical or bacteriological means, or disruption of the

means of transportation and communication, resulting from an attack, it

is impossible or impracticable for any institution to conduct its

ordinary business in compliance with the laws other than this article

and, if a corporate institution, in compliance with the provisions of

its charter.

6. "Director" and "board of directors," when used in this article,

shall include respectively "trustee" and "board of trustees," including

an individual trustee and a board of individual trustees of any fund.

7. "Acting director" and "acting officer" when used in this article,

shall mean, respectively, an acting director or acting officer elected

or appointed in accordance with the provisions of this article.

8. "Quorum," when used in this article, shall mean with respect to any

item of business which may come before any meeting of directors of a

corporate institution the minimum number of directors required by the

provisions of law other than this article and by the charter of such

institution to be present for valid action to be taken at such meeting

with respect to such business.

9. "Superintendent," when used in this article, shall mean the

superintendent of financial services.