Section 2. Definitions

1.  Bank.  The  term,  "bank,"  when  used in this
  chapter, unless a different meaning appears from the context, means  any
  corporation,  other  than a trust company, organized under or subject to
  the provisions of article three of this chapter.
    2. Trust company.  The  term,  "trust  company,"  when  used  in  this
  chapter,  unless a different meaning appears from the context, means any
  corporation or  limited  liability  trust  company  organized  under  or
  subject  to  the provisions of article three of this chapter, having, in
  addition to the other powers specified in such  article,  the  fiduciary
  powers  specified therein. The definitions set forth in section two-b of
  this article shall be utilized when the provisions of this  chapter  are
  applied  to  the  formation  and  operation  of  limited liability trust
  companies.
    3. Private banker. The term,  "private  banker,"  when  used  in  this
  chapter,  means  an  individual  or  partnership  duly authorized by the
  superintendent to engage in the business of a private banker pursuant to
  the provisions of article four of this chapter.
    4. Savings bank. The term, "savings bank," when used in this  chapter,
  means  any  corporation  organized under or subject to the provisions of
  article six of this chapter. Such term shall include stock-form  savings
  banks  which  shall  be subject to the provisions of article six of this
  chapter to the extent  not  otherwise  provided  by  the  banking  board
  pursuant  to  regulations  promulgated  under section fourteen-e of this
  chapter.
    6. Safe deposit company. The term, "safe deposit company,"  when  used
  in this chapter, means any corporation organized under or subject to the
  provisions of article eight of this chapter.
    7.  Licensed  lender.  The  term, "licensed lender," when used in this
  chapter, means any  person  or  other  entity  duly  authorized  by  the
  superintendent  to  engage  in  business  pursuant  to the provisions of
  article nine of this chapter. The terms,  "licensee,"  and  "licensees,"
  when  used  in  article  nine of this chapter, mean a licensed lender or
  licensed lenders.
    8.  Savings  and  loan  association.  The  term,  "savings  and   loan
  association," when used in this chapter, means any corporation organized
  under  or subject to the provisions of article ten of this chapter. Such
  term shall include stock-form savings and loan associations which  shall
  be  subject  to  the  provisions  of  article ten of this chapter to the
  extent  not  otherwise  provided  by  the  banking  board  pursuant   to
  regulations promulgated under section fourteen-e of this chapter.
    9.  Credit union. The term, "credit union," when used in this chapter,
  means any corporation organized under  article  eleven  of  chapter  six
  hundred  eighty-nine of the laws of nineteen hundred nine, as amended by
  chapter  five  hundred  eighty-two  of  the  laws  of  nineteen  hundred
  thirteen,   or   under  article  eleven  of  this  chapter.  Every  such
  corporation shall be a non-stock corporation.
    10. Investment company. The term, "investment company," when  used  in
  this  chapter,  means  any  corporation  or limited liability investment
  company organized under or subject to the provisions of  article  twelve
  of  this  chapter.  The  definitions  set forth in section two-a of this
  article shall be utilized  when  the  provisions  of  this  chapter  are
  applied  to  the formation and operation of limited liability investment
  companies.
    10-a.  Mutual  trust  investment  company.  The  term  "mutual   trust
  investment  company"  when  used  in  this  chapter, means an investment
  company as defined by  an  act  of  congress  entitled  the  "Investment
  Company  Act  of  1940", approved August twenty-second, nineteen hundred
  forty, as amended, provided that (a) such company is organized under  or

  subject  to  the provisions of article twelve-A of this chapter; and (b)
  all of the stock and shares, other than stock or shares required by  law
  to  qualify directors of such investment company, are or are to be owned
  by  trust  companies  or  national  banks having trust powers and having
  their principal offices within the state of New York or  their  nominees
  or   the   nominees   of   such  corporate  fiduciaries  and  individual
  co-fiduciaries.
    11. Banking organizations. The  term,  "banking  organizations,"  when
  used  in  this  chapter,  means and includes all banks, trust companies,
  private bankers, savings banks, safe deposit companies, savings and loan
  associations, credit unions and investment companies.
    12. Time deposits. The  term,  "time  deposits,"  when  used  in  this
  chapter,  and  except as provided otherwise by regulation of the banking
  board, means all  deposits  the  payment  of  which  cannot  legally  be
  required within fourteen days.
    13.  Demand  deposits.  The term, "demand deposits," when used in this
  chapter, and except as provided otherwise by regulation of  the  banking
  board,  means  deposits  payment of which can legally be required within
  fourteen days.
    14. Net demand deposits. The term, "net demand deposits," when used in
  this chapter, means the total of all deposits, and of all amounts due to
  banking corporations and private bankers  and  of  all  amounts  due  on
  certified  and officers' checks, letters of credit and travelers' checks
  sold for cash, and for unpaid dividends, less the following items:
    (a) Time deposits;
    (b) Amounts due on demand from banking  corporations  organized  under
  the  laws  of  the  United  States or any state of the United States and
  private  bankers  other  than  a  federal  reserve  bank   and   reserve
  depositaries.
    15.  Reserves on hand. The term, "reserves on hand," when used in this
  chapter, means the reserves against deposits kept in the  vault  of  any
  banking organization.
    16. Reserves on deposit. The term, "reserves on deposit," when used in
  this  chapter,  means  the  reserves  against deposits maintained with a
  federal reserve bank located in this state and with reserve depositaries
  by any banking organization, pursuant to the provisions of this chapter.
    17. Total reserves. The term, "total  reserves,"  when  used  in  this
  chapter, means the aggregate of reserves on hand and reserves on deposit
  maintained pursuant to the provisions of this chapter.
    18.  Reserve  depositary. The term, "reserve depositary," when used in
  this chapter, means a banking corporation or private  banker  designated
  by the superintendent as a depositary for reserves on deposit.
    19.  Stockholder.  The term, "stockholder," when used in this chapter,
  unless otherwise qualified, means a person who appears by the books of a
  stock corporation to be the owner and holder of one or  more  shares  of
  the stock of such corporation.
    20.  Shareholder.  The term, "shareholder," when used in this chapter,
  means a member of a mutual savings and loan association or a member of a
  credit union.
    21. Population. The term, "population," when  used  in  this  chapter,
  means  population  as  determined  by the latest federal census; or when
  used  in  connection  with  the  words  "unincorporated   village,"   as
  determined  by  the  superintendent  from  the best available sources of
  information.
    22. Capital stock. The  term,  "capital  stock,"  when  used  in  this
  chapter  in  connection  with  any  stock  corporation  subject  to this
  chapter, means the aggregate par value  of  all  outstanding  shares  of
  every class.

    24.  Deed  of  trust.  The term "mortgage", when used in this chapter,
  shall, unless the context otherwise requires, include a  deed  of  trust
  securing  a  loan;  provided,  however,  that  in applying the recording
  provisions of this chapter in the case of any obligation  secured  by  a
  deed of trust, such provisions shall be deemed to require only that such
  deed  of  trust  be  recorded  in  the  name  of the trustee or trustees
  thereunder.
    25. Bond and mortgage. The term "bond and mortgage", when used in this
  chapter, in referring to investments in or loans secured by mortgages on
  real estate, shall, unless the context  otherwise  requires,  include  a
  note secured by such mortgage.
    26.  Minor or infant. The term, "minor" or "infant", when used in this
  chapter, shall mean a person who has not attained the  age  of  eighteen
  years;  provided,  however, that such definition shall not be applicable
  to any provision relating to the New York Uniform  Transfers  to  Minors
  Act.
    27.  Trust office. The term "trust office", when used in this chapter,
  means an office of a trust company at which the activities conducted are
  limited to one or more of the fiduciary activities permitted for a trust
  company under this chapter and such non-fiduciary activities as  may  be
  ancillary to those activities. A trust office shall not be considered to
  be a branch office pursuant to any other provisions of this chapter.