New York Codes, Rules and Regulations
Title 10 - DEPARTMENT OF HEALTH
Chapter V - Medical Facilities
Subchapter A - Medical Facilities-minimum Standards
Article 9 - Residential Health Care Facility Uniform Reporting
Part 451 - Definitions
Section 451.49 - Certificate of deposit
Universal Citation: 10 NY Comp Codes Rules and Regs ยง 451.49
Current through Register Vol. 46, No. 39, September 25, 2024
(a) A formal instrument, frequently negotiable or transferable, issued by a bank as evidence of indebtedness and arising from a deposit of cash subject to withdrawal under the specific terms of the instrument:
(1) demand certificates, payable upon
presentation, seldom bearing interest;
(2) time certificates, payable at a fixed or
determinable future date. usually bearing interest at a specified
rate.
(b) A formal certificate, usually printed or engraved, ordinarily negotiable or transferable, and issued by a depository or agent against the deposit of bonds or stock of a corporation under the terms of a reorganization plan or other agreement.
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