N.Y. Gen. Bus. Law § 41
Licenses, how obtained; penalty for carrying on business without license
Redline — January 1, 2015 → current.View current text →
Current — January 1, 2023
As of January 1, 2015
§ 41. Licenses, how obtained; penalty for carrying on business without\nlicense. The mayor or such local licensing authority may from time to\ntime grant, under his hand and the official seal of his office, to such\ncitizens, or aliens lawfully admitted for permanent residence in the\nUnited States, as he shall deem proper and who shall produce to him\nsatisfactory evidence of their good character, a license authorizing\nsuch person to carry on the business of a collateral loan broker, which\nlicense shall designate the house in which such person shall carry on\nsaid business, and no person, corporation, partnership or firm shall\ncarry on the business of a collateral loan broker without being duly\nlicensed, nor in any other house than the one designated in said\nlicense, under a penalty of one hundred dollars for each day he or they\nshall exercise or carry on said business without such license or at any\nother house than the one so designated. Any person receiving such\nlicense shall pay therefor the sum of five hundred dollars for the use\nof the city yearly where such business is to be conducted in a city with\na population of more than one million persons, and where the business is\nto be conducted elsewhere the fee for such license shall not exceed two\nhundred fifty dollars yearly, and every such license shall expire one\nyear from the date thereof, and may be renewed on application to the\nmayor or local licensing authority each and every year on payment of the\nsame sum and upon performance of the other conditions herein contained.\nEvery person so licensed shall, at the time of receiving such license,\nfile with the mayor or such local licensing authority granting the same\na bond to the local authorities, to be executed by the person so\nlicensed and by two responsible sureties, in the penal sum of ten\nthousand dollars, to be approved by such mayor or local licensing\nauthority, which bond shall be conditioned for the faithful performance\nof the duties and obligations pertaining to the business so licensed,\nand the mayor or such local licensing authority shall have full power\nand authority to revoke such license for cause.\n
§ 41. Licenses, how obtained; penalty for carrying on business without\nlicense. The mayor or such local licensing authority may from time to\ntime grant, under his or her hand and the official seal of his or her\noffice, to such citizens, or noncitizens lawfully admitted for permanent\nresidence in the United States, as he or she shall deem proper and who\nshall produce to him satisfactory evidence of their good character, a\nlicense authorizing such person to carry on the business of a collateral\nloan broker, which license shall designate the house in which such\nperson shall carry on said business, and no person, corporation,\npartnership or firm shall carry on the business of a collateral loan\nbroker without being duly licensed, nor in any other house than the one\ndesignated in said license, under a penalty of one hundred dollars for\neach day he or they shall exercise or carry on said business without\nsuch license or at any other house than the one so designated. Any\nperson receiving such license shall pay therefor the sum of five hundred\ndollars for the use of the city yearly where such business is to be\nconducted in a city with a population of more than one million persons,\nand where the business is to be conducted elsewhere the fee for such\nlicense shall not exceed two hundred fifty dollars yearly, and every\nsuch license shall expire one year from the date thereof, and may be\nrenewed on application to the mayor or local licensing authority each\nand every year on payment of the same sum and upon performance of the\nother conditions herein contained. Every person so licensed shall, at\nthe time of receiving such license, file with the mayor or such local\nlicensing authority granting the same a bond to the local authorities,\nto be executed by the person so licensed and by two responsible\nsureties, in the penal sum of ten thousand dollars, to be approved by\nsuch mayor or local licensing authority, which bond shall be conditioned\nfor the faithful performance of the duties and obligations pertaining to\nthe business so licensed, and the mayor or such local licensing\nauthority shall have full power and authority to revoke such license for\ncause.\n
Official source: NYS Open Legislation (New York State Senate). Reproduced from public-domain New York statutes; confirm against the official source for the current text. Not legal advice.