N.Y. GBS Law § 359-I

This is the official text of N.Y. GBS Law § 359-I, part of New York’s GBS Law — part of the compiled statutory law of New York, published by the state as "GBS Law." Browse the sections below, each linked to its official government source.

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Definitions

Official statutory text

§ 359-i. Definitions. 1. In this article unless the context or subject\nmatter otherwise requires:\n "Bank" includes any person or association of persons, whether\nincorporated or not, carrying on the business of banking.\n "Fiduciary" includes a trustee under any trust, expressed, implied,\nresulting or constructive, executor, administrator, guardian,\nconservator, curator, committee, receiver, trustee in bankruptcy,\nassignee for the benefit of creditors, partner, agent, officer of a\ncorporation, public or private, public officer, or any other person\nacting in a fiduciary capacity for any person, trust or estate.\n "Person" includes a corporation, partnership, or other association, or\ntwo or more persons having a joint or common interest.\n "Principal" includes any person to whom a fiduciary as such owes an\nobligation.\n 2. An act is done "in good faith" when it is done in fact honestly,\nwhether it be done negligently or not.\n

Status: in_force · Read it on the official government site

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About this page: Statute text is reproduced from official government publishers via the Open US Law dataset (Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine (Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.