N.Y. Banking Law § 350: Restrictions concerning advertising, liens on real estate, and places where loans made

§ 350. Restrictions concerning advertising, liens on real estate, and

places where loans made. 1. (a) No licensee or other entity shall

advertise, print, display, publish, distribute, or broadcast or cause or

permit to be advertised, printed, displayed, published, distributed, or

broadcasted, in any manner whatsoever any statement or representation

with regard to the rates, terms, or conditions for the loaning of money,

credit, goods, or things in action which is false, misleading or

deceptive, or in violation of chapter three of the act of congress

entitled "Truth in Lending Act" and the regulations thereunder, as such

act and regulations may from time to time be amended.

(b) No licensee shall make, directly or indirectly, orally or in

writing, by any method, practice or device, any representation that it

is licensed under this chapter, except a representation that such

licensee is licensed as a licensed lender by the New York state

department of financial services.

2. No licensee shall take a lien upon real estate as security for any

loan under the provisions of this article, except such lien as is

created by law upon the recording of a judgment.

3. No licensee shall conduct the business of making loans under the

provisions of this article within any office, room, or place of business

in which any other business is solicited or engaged in, or in

association or conjunction therewith, except (a) a licensee may, after

obtaining any required license, conduct on its premises businesses

authorized under articles eleven-B, twelve-B, twelve-D and thirteen-B of

this chapter, or (b) as may be authorized in writing by the

superintendent upon a finding that such other business would not result

in evasions of this article or of the rules and regulations lawfully

made hereunder.

4. No licensee shall transact such business or make any loan provided

for by this article under any other name or at any other place of

business than that named in the license, except as may be authorized by

the superintendent.