N.Y. Banking Law § 161

§ 161. Authorization certificate. If the superintendent shall issue an\nauthorization certificate as provided in article two of this chapter,\nsuch individual or partnership may engage in the business of banking\nincluding receiving deposits subject to check or for repayment upon the\npresentation of a pass book, certificate of deposit or other evidence of\ndebt, or upon the request of the depositor, or in the discretion of such\nindividual, or partnership; receiving money for transmission;\ndiscounting or negotiating promissory notes, drafts, bills of exchange\nor other evidences of debt; and buying or selling exchange, coin or\nbullion at the location specified in such authorization certificate,\nsubject to all the restrictions and limitations contained in this\nchapter. In conducting such business a private banker may make use of\nthe words "bank," "banker" or "banking" or their equivalent or any\nderivative or compound thereof.\n