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This entry was published on 2014-09-22
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SECTION 1602
Definitions
Not-for-Profit Corporation (NPC) CHAPTER 35, ARTICLE 16
§ 1602. Definitions.

The following words and phrases when used in this article shall have
the meanings given to them in this section unless the context clearly
indicates otherwise:

(a) "board of directors" or "board" shall mean the board of directors
of a land bank;

(b) "land bank" shall mean a land bank established as a charitable
not-for-profit corporation under this chapter and in accordance with the
provisions of this article and pursuant to this article;

(c) "foreclosing governmental unit" shall mean "tax district" as
defined in subdivision six of section eleven hundred two of the real
property tax law;

(d) "municipality" shall mean a city, village, town or county other
than a county located wholly within a city;

(e) "school district" shall mean a school district as defined under
the education law; and

(f) "real property" shall mean lands, lands under water, structures
and any and all easements, air rights, franchises and incorporeal
hereditaments and every estate and right therein, legal and equitable,
including terms for years and liens by way of judgment, mortgage or
otherwise, and any and all fixtures and improvements located thereon.