N.Y. GCM Law § 11

§ 11. Definitions. When used in this subpart:\n 1. The term "financial corporation" means every corporation doing a\nbanking business as defined in this section, other than a national\nbanking association, a trust company all of the capital stock of which\nis owned by not less than twenty savings banks organized under a law of\nthis state, or a corporation taxable under part two of this title, and\nshall include the mortgage facilities corporation created by chapter\nfive hundred sixty-four of the laws of nineteen hundred fifty-six.\n 2. The word "paid, " for the purpose of the deductions and credits\nunder this subpart, means "paid or accrued" or "paid or incurred," and\nthe terms "paid or incurred" and "paid or accrued" shall be construed\naccording to the method of accounting upon the basis of which the net\nincome is computed, under this subpart. The term "received," for the\npurpose of the computation of net income under this subpart means\n"received or accrued" and the term "received or accrued" shall be\nconstrued according to the method of accounting upon the basis of which\nthe net income is computed under this subpart.\n 3. The word "dividend" means any distribution made by a corporation to\nits shareholders or members, out of its earnings or profits, whether in\ncash, or in property other than stock of the corporation.\n 4. The words "doing a banking business" means doing such business as a\ncorporation may be created to do under articles three, five, five-a, six\nand seven of the banking law, or doing any business which a corporation\nis authorized by such articles to do.\n 5. The words "foreign banker doing a banking business" in the city,\ninclude every foreign corporation doing a banking business in the city,\nexcept a national banking association.\n 6. The words "savings and loan association" means every corporation\ndoing such business as a corporation may be created to do under article\nten of the banking law, including every federal savings and loan\nassociation organized under authority of the United States.\n