N.Y. Banking Law § 181: Exemptions of certain private bankers

§ 181. Exemptions of certain private bankers. 1. Every individual and

partnership conducting the business of a private banker on June

thirtieth, nineteen hundred thirty-eight, pursuant to an authorization

certificate issued by the superintendent may thereafter continue to

conduct such business under the authority of such existing authorization

certificate.

2. Nothing in this article shall be construed to render unlawful the

continued ownership or holding by a private banker of any investments,

loans, or other real or personal property lawfully acquired prior to

June thirtieth, nineteen hundred thirty-eight.