§ 62-01 — Definitions

§ 62-01 Definitions.

For the purposes of this chapter, the following terms have the following meanings. The terms not defined in this section have the meanings set forth in § 11-3201 of the Administrative Code, except as otherwise provided in this chapter. Additional rental documents. The term “additional rental documents” means a utility bill in a lessee’s or sub-lessee’s name issued within one year prior to the date of submission, an unexpired renter’s insurance policy that such lessee or sub-lessee is party to, or proof of rental payment to the owner of a property. Arm’s length transaction. The term “arm’s length transaction” means a lease or sub-lease for a covered property or a dwelling unit in a covered property entered into in good faith and for valuable consideration that reflects the fair market rental value of such covered property or dwelling unit between two informed and willing parties, where neither is under any compulsion to participate in the transaction and circumstances do not indicate a reasonable possibility that the lease or sub-lease was entered into primarily for the purpose of avoiding imposition of the surcharge. Commissioner. The term “commissioner” means the commissioner of the department or their designee. Duly authorized representative. The term “duly authorized representative” means: 1. any person who files a power of attorney with the department on a form designated by the department that authorizes such person to act on behalf of an owner; 2. any licensed attorney who submits an affidavit indicating that such attorney represents an owner with regard to the applicable matter; 3. for the purposes of submitting an appeal pursuant to 19 RCNY § 62-06(b), any individual who provides the password included in the initial notice of primary residency determination and certifies that they are authorized to submit an appeal on behalf of a property owner; 4. with respect to a partnership, a general partner of such partnership; 5. with respect to a limited liability company, a member of such company; 6. with respect to a corporation, an officer of such corporation; or 7. a trustee of a trust. Economic interest. The term “economic interest” means shares of stock in a corporation that owns a covered property, including shares of stock in a cooperative corporation entitling the holder of such shares to a proprietary lease in a dwelling unit; the ownership of an interest or interests in a partnership, limited liability company or other unincorporated entity that owns a covered property or such shares in a cooperative corporation; and the ownership of a beneficial interest or interests in a trust that owns a covered property or such shares in a cooperative corporation. Majority interest. The term “majority interest” means: 1. In the case of a corporation, greater than 50% of the total combined voting power of all classes of stock of such corporation, or greater than 50% of the total fair market value of all classes of stock of such corporation; and 2. in the case of a partnership or limited liability company, entitlement to greater than 50% of the capital or profits of such partnership or limited liability company. OATH. The term “OATH” means the office of administrative trials and hearings. Petitioner. The term “petitioner” means an owner of a covered property or a duly authorized representative in relation to a petition that was submitted timely pursuant to subdivision (d) of 19 RCNY § 62-04. (Added City Record 7/14/2026, eff. 7/14/2026)