§ 62-03 Definitions Specific to this Chapter.
RCNY § 62-03
(a)Administrator means the duly appointed administrator, executor, executrix or personal representative of an estate.
(b)Applicant in this Chapter means an Applicant for an original or renewal License as a Taxicab Broker (c) Broker or Taxicab Broker is an individual or Business Entity licensed by the Commission to act as an agent for another person or Business Entity in negotiating any of the following: (1) The transfer of any interest in a Medallion.
(2)A loan to be secured by a Medallion or a Taxicab, including any refinancing, extension or modification of any such loan.
(d)Brokerage is the term for the business of being a Broker.
(e)De-licensed means an individual or Business Entity whose License is suspended or revoked.
(f)Exclusive Listing means that the Broker has been given the right to be the only Broker for a particular transaction. Usually the right will be limited to a specific period of time.
(g)License in this Chapter means a License to be a Taxicab Broker.
(h)Related Party or Parties means a spouse, domestic partner, child, grandchild, parent, sibling, or grandparent; a parent, child or sibling of a spouse or domestic partner; and a spouse, or domestic partner of a parent, child or sibling of any natural person who is a Broker, or, if a Broker is a Business Entity, of any natural person who is a partner, member, shareholder and/or officer of a Broker. (Amended City Record 2/12/2020, eff. 3/13/2020)
