N.Y. Banking Law § 353: Limitation on licensee's charges on certain loans

§ 353. Limitation on licensee's charges on certain loans. No licensee

shall directly or indirectly charge, contract for, or receive any

interest, discount, or consideration upon the loan, use, or forbearance

of money, goods, or things in action, or upon the loan, use, or sale of

credit, of the amount or value of more than the maximum amounts

prescribed in section three hundred forty of this article greater than

the rate permitted by section 5-501 of the general obligations law. The

foregoing prohibition shall also apply to any licensee which permits any

person, as borrower or as endorser, guarantor, or surety for any

borrower or otherwise, to owe directly or contingently or both to the

licensee at any time more than the maximum amounts prescribed in section

three hundred forty of this article.