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New York · Through 2026-09-11

N.Y. Banking Law § 494: License form; posting; limitations

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Where this section sits in the code
  1. Banking Law
  2. Article 11-B. Sales Finance Companies

§ 494. License form; posting; limitations. 1. Each license issued

under this article shall state the address at which the licensed

business is to be conducted and shall state fully the name of the

licensee and, if the licensee is a copartnership or association, the

names of the members thereof, and if a corporation, the date and place

of its incorporation and the address of its principal place of business.

Such license shall be kept conspicuously posted in the licensee's

specified place of business and shall not be transferable or assignable.

2. Whenever any licensee hereunder changes its place of business to

another location, it shall give immediate written notice thereof to the

superintendent, who shall without charge attach to the license or

endorse on it in writing a record of the change and the date thereof,

which shall be authority for the operation of the business under such

license at such new location.

3. No person, except a licensee, may make any representation, directly

or indirectly, orally or in writing, that he is licensed under this

article, and a licensee may make such a representation only in

connection with the licensee's business as a sales finance company and

in accordance with any rules and regulations of the superintendent.

Collected 2026-09-14T19:32:44Z. Source file · JSON

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