Statute · New York General Business Law
N.Y. Gen. Bus. Law § 359-i — Definitions
N.Y. Gen. Bus. Law § 359-i
- Type
- Statute
- Source
- New York General Business Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 359-i. Definitions. 1. In this article unless the context or subject matter otherwise requires:
Citator
N.Y. Gen. Bus. Law § 359-i — Definitions is in force in the current edition of the Code, and nothing recorded condemns it.
§ 359-i. Definitions. 1. In this article unless the context or subject matter otherwise requires:
"Bank" includes any person or association of persons, whether incorporated or not, carrying on the business of banking.
"Fiduciary" includes a trustee under any trust, expressed, implied, resulting or constructive, executor, administrator, guardian, conservator, curator, committee, receiver, trustee in bankruptcy, assignee for the benefit of creditors, partner, agent, officer of a corporation, public or private, public officer, or any other person acting in a fiduciary capacity for any person, trust or estate.
"Person" includes a corporation, partnership, or other association, or two or more persons having a joint or common interest.
"Principal" includes any person to whom a fiduciary as such owes an obligation.
2. An act is done "in good faith" when it is done in fact honestly, whether it be done negligently or not.