New York Laws
Sub Title 5-A - Subtitle V-a Loans to Lenders Program
1835-A - Definitions.

§ 1835-a. Definitions. As used or referred to in this subtitle, unless
a different meaning appears from the context:

1. "Borrower" means the person, firm, partnership, corporation or
other entity which receives a loan from a lender to pay the cost of a
business project.

2. "Agricultural business project" means any land, any building or
other improvement and any real and personal properties located within
the state, including but not limited to, machinery, equipment and other
facilities deemed necessary or desirable in connection therewith, or
incidental thereto, whether or not now in existence or under
construction, which shall be used for manufacturing, warehousing,
research, commercial, industrial or other business purposes in support
of the state's agricultural industry.

3. "Lender" means (a) any organization defined by subdivision eleven
of section two of the banking law, (b) any agency or branch of a foreign
banking corporation licensed by the department of financial services
under article five of the banking law, (c) any national bank, federal
savings and loan association and federal credit union, (d) any
authorized insurer defined by subdivision six of section four of the
insurance law and (e) any other institution within the state authorized
to originate and service loans including, but not limited to, credit
unions, mortgage loan companies and the New York business development
corporation established under article five-A of the banking law, which
shall be treated as a lender for all purposes of this subtitle.

4. "Loan for agricultural business project" means a loan received by a
borrower from a lender to pay the cost of an agricultural business
project.

5. "Loan to lender" means a loan made by the authority to a lender and
evidenced by a bond, note, certificate of deposit or other obligation of
such lender, secured or unsecured, as provided in this subtitle.