§ 45-02 Definitions.
RCNY § 45-02
(a)"Affiliate" means (1) any other person controlling or controlled by or under common control with the bidder; or (2) any other person, as defined in this section, who has, directly or indirectly, a five percent (5%) or greater ownership interest in the bidder, or any other person in which the bidder, a partner or shareholder of the bidder, or partner or shareholder of any person that is a partner or shareholder of the bidder, has a five percent (5%) or greater ownership interest; or (3) any individual who is a member of the immediate family (whether by birth or marriage) of a person who is an affiliate, which includes for purposes of this definition a spouse, a domestic partner as defined in Section 1150(13) of the Charter, a brother or sister of the whole or half blood (including an individual related by or through legal adoption) of such individual or his/her spouse or domestic partner, a lineal descendant or ancestor (including an individual related by or through legal adoption) of any of the foregoing, or a trust for the benefit of any of the foregoing; or (4) any person who is a nominee of an affiliate, or serves in the capacity of a straw-buyer for an affiliate. The term "ownership" includes beneficial ownership effected by ownership of intermediate entities.
(b)"Bidder" means a person that intends to bid in a sale of property foreclosed pursuant to New York City Administrative Code § 11-354, and includes any subsidiary, parent or affiliate of such bidder, as defined herein.
(c)"Control" means the power to direct the management and policies of such bidder directly or indirectly, whether through the ownership of voting securities, by contract or otherwise. The terms "controlling" and "controlled" have meanings correlative to the foregoing.
(d)"Owner" shall mean and include the owner or owners of the freehold of the premises or lesser estate therein, a mortgagee or vendee in possession, assignee of rents, receiver, executor, trustee, lessee, agent or any other person, firm or corporation, directly or indirectly in control of a dwelling, or an affiliate of an owner.
(e)"Person" means any natural person, individual, corporation, partnership, joint venture, association, limited liability company, joint stock company, trust or estate (including any beneficiary thereof), unincorporated organization or government or any agency or political subdivision thereof, or other business entity, and any fiduciary acting in such capacity on behalf of any of the foregoing.
