§ 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.