New York § 501 - 501Definitions
Full text of New York New York Consolidated Laws § 501 — 501Definitions, with citation guidance and answers to common questions.
§ 501. 501Definitions
§ 501. Definitions. As used in this article, in addition to the definitions set forth in section one hundred one of this chapter, the following terms shall mean and include: 1. "Board of directors." The board of directors of a corporation as such board is constituted pursuant to section five hundred two of this article. 2. "Corporation." Each regional off-track betting corporation, as created by section five hundred two of this article. 3. "Participating county." Any of the counties in a region which have elected to join a corporation in the manner provided for in section five hundred two of this article. 4. "Bonds and notes." Bonds and notes, respectively, authorized and issued by the corporation pursuant to this article. 5. "Cost of corporation's functions." All costs and expenses incurred by the corporation in connection with carrying out the functions as described by this article, including, but not limited to, operating expenses of the corporation, the costs of acquisition, construction or equipment of branch offices and other facilities of the corporation, and interest and principal on bonds, notes or other obligations of the corporation issued to finance the acquisition, construction or equipment of such offices, facilities or premises. 6. "Region." The several regions defined by subdivision one of section five hundred nineteen of this chapter. 7. "Track." The grounds or enclosure within which horse races are conducted by any person, association or corporation lawfully authorized to conduct such races. 8. "Governing body." The appropriate county legislative body. 9. "Branch office." An establishment maintained and operated by the corporation, where off-track, pari-mutuel betting on horse races may be placed in accordance with the terms and conditions of this article and the rules and regulations issued pursuant thereto. 10. "Enabling legislation." A local law, ordinance or resolution subject to a permissive referendum pursuant to the municipal home rule law.
Frequently Asked Questions About New York § 501
What does New York Consolidated Laws § 501 cover?
Section 501 ("501Definitions") is part of the New York Consolidated Laws, the codified statutory law of New York. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New York § 501?
A common citation format is "New York Consolidated Laws § 501" (New York). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New York law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New York official source linked on this page or consult a licensed New York attorney.
How does New York § 501 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New York can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New York.