N.Y. Banking Law § 370: Restrictions as to place or area of doing business; establishment of stations; change of location

§ 370. Restrictions as to place or area of doing business;

establishment of stations; change of location. 1. No more than one place

of business or one mobile unit shall be maintained under the same

license; provided, however, that more than one license may be issued to

the same licensee upon compliance with the provisions of this article

for each new license.

2. Any licensed casher of checks may open and maintain, within this

state, one or more limited stations for the purpose of cashing checks,

drafts or money orders for the particular group or groups specified in

the license authorizing each such station. Such stations shall be

licensed pursuant to and be subject to all the provisions of this

chapter applicable to licensed cashers of checks, except that (a) such

station shall not be subject to the distance limitation set forth in

subdivision one of section three hundred sixty-nine of this article, (b)

the fee for investigating the application for a station shall be as

prescribed pursuant to section eighteen-a of this chapter, and (c) where

such a station is at the premises of a specified employer for the

purpose of cashing checks, drafts and money orders for the employees of

such employer, the fees and charges for cashing such checks, drafts or

money orders shall not be subject to the limitations of subdivision one

of section three hundred seventy-two of this article if such fees and

charges are paid by such employer.

3. A licensee may make a written application to the superintendent for

leave to change his or her place of business, or in the case of a mobile

unit, the area in which such unit is authorized to be operated, stating

the reasons for such proposed change. Such application may be approved

for relocation from a site within three-tenths of a mile of another

licensee to another site within three-tenths of a mile of such other

licensee provided that such new site is farther from such existing

licensee than the site from which permission to relocate is sought. Only

in situations in which a licensee seeks to change its place of business

due to extraordinary circumstances, as may be determined by the

superintendent pursuant to regulations, may the superintendent, in his

or her discretion, determine that an application may be approved for

relocation from a site within three-tenths of a mile of another licensee

to a new site which is closer to such existing licensee than the site

from which permission to relocate is sought. Notwithstanding any other

provision of this subdivision, a licensee may relocate from any location

to a location that is within three-tenths of a mile from another

licensee with the written consent of the other licensee. If the

superintendent approves such application he or she shall issue a new

license in duplicate in accordance with the provisions of section three

hundred sixty-nine of this article, stating the new location of such

licensee or, in the case of a mobile unit, the new area in which such

mobile unit may be operated.