§ 103. Definitions. As used in this chapter

(a) "Abandoned property fund" means the abandoned property fund
established by section ninety-five of the state finance law, as such
section was added by a chapter of the laws of nineteen hundred
forty-four, entitled "An act to amend the state finance law, in relation
to establishing an abandoned property fund and providing for the
transfer of certain moneys and property to such fund, and to amend the
surrogate's court act in relation to payments from such fund."

(b) "Abandoned property heretofore paid to the state" means, unless a
more limited meaning clearly appears from the context, all money or
other personal property collected or received by the state comptroller
or the department of taxation and finance pursuant to the provisions of

(i) section twenty-two hundred twenty-two of the surrogate's court
procedure act;

(ii) subdivision two of section five, sections thirty-two, one hundred
twenty-seven, one hundred seventy, two hundred fifty-seven and three
hundred fourteen of the banking law;

(iii) subsection (c) of section seven thousand four hundred
thirty-four of the insurance law;

(iv) subdivision four of section sixty-six-a and section one hundred
four-c of the public service law;

(v) section thirteen-c of the transportation corporations law;

(vi) sections eighty-four, ninety and ninety-two of the state finance
law;

(vii) section four hundred twenty-four of the vehicle and traffic law;

(viii) section one hundred thirty-eight of the navigation law;

(ix) and any earlier provision of law which embodies provisions which
are substantially the same as or equivalent to those contained in such
sections.

(c) "Banking organizations" means all banks, trust companies, private
bankers, savings banks, industrial banks, safe deposit companies,
savings and loan associations, credit unions and investment companies in
this state, organized under or subject to the provisions of the laws of
this state, or of the United States, including entities organized under
section six hundred eleven of title twelve of the United States code,
but does not include federal reserve banks. For the purposes of this
chapter, the term "banking organization" shall also include any
corporation or other organization which is a wholly or partially owned
subsidiary of any banking organization, banking corporation, or bank
holding company, which performs any or all of the functions of a banking
organization, or any corporation or other organization which performs
such functions pursuant to the terms of a contract with any banking
organization.

(d) "Infant" means a person who has not attained the age of eighteen
years.
"Infancy" means the state of being an infant.

(e) "Life insurance corporation" means any insurer corporation
organized under the laws of this state or any foreign corporation
authorized to do either one or both kinds of insurance business
authorized in paragraphs one and two of subsection (a) of section one
thousand one hundred thirteen of the insurance law, as amended from time
to time. The term life insurance corporation shall include a fraternal
benefit society as defined in section four thousand five hundred one of
the insurance law.

(f) "Utility services" means gas, electricity or steam supplied by a
gas, electric, gas and electric or district steam corporation,
telephone, telegraph or other service furnished by a telephone,
telegraph or telegraph and telephone corporation, water supplied by a
waterworks corporation, or appliances, equipment, installations,
fixtures or appurtenances rented by any such corporation.

(g) "Gift certificate" shall mean a written promise or electronic
payment device that: (i) is usable at a single merchant or an affiliated
group of merchants that share the same name, mark, or logo, or is usable
at multiple, unaffiliated merchants or service providers; and (ii) is
issued in a specified amount; and (iii) may or may not be increased in
value or reloaded; and (iv) is purchased and/or loaded on a prepaid
basis for the future purchase or delivery of any goods or services; and
(v) is honored upon presentation. Gift certificate shall not include an
electronic payment device linked to a deposit account, or prepaid
telephone calling cards regulated under section ninety-two-f of the
public service law. Gift certificate also shall not include flexible
spending arrangements as defined in Section 106(c)(2) of the Internal
Revenue Code, 26 U.S.C. § 106(c)(2); flexible spending accounts subject
to Section 125 of the Internal Revenue Code, 26 U.S.C. § 125; Archer
MSAs as defined in Section 220(d) of the Internal Revenue Code, 26
U.S.C. § 220(d); dependent care reimbursement accounts subject to
Section 129 of the Internal Revenue Code, 26 U.S.C. § 129; health
savings accounts subject to Section 223(d) of the Internal Revenue Code,
26 U.S.C. § 223(d), as amended by Section 1201 of the Medicare
Prescription Drug, Improvement, and Modernization Act of 2003, Pub. L.
No. 108-173; or similar accounts from which, under the Internal Revenue
Code and its implementing regulations, individuals may pay medical
expenses, health care expenses, dependent care expenses, or similar
expenses on a pretax basis. Gift certificate also shall not include a
prepaid discount card or program used to purchase identified goods or
services at a price or percentage below the normal and customary price;
provided that the expiration date of the prepaid discount card or
program is clearly and conspicuously disclosed. Gift certificate also
shall not include payroll cards or other electronic payment devices
which are linked to a deposit account and which are given in exchange
for goods or services rendered.

(h) "Virtual currency" shall have the same meaning as set forth in 23
NYCRR 200.2(p).

(i) "Virtual currency business activity" shall have the same meaning
as set forth in 23 NYCRR 200.2(q).