N.Y. Banking Law § 648: Agents

§ 648. Agents. A licensee may conduct its business at one or more

locations within this state, as follows:

(a) The business may be conducted through or by means of agents as the

licensee may from time to time designate or appoint and, in no event,

shall the business of money transmission be conducted through a

subagent.

(b) No license under this article shall be required of any agent of a

licensee in cases in which such agent is acting on behalf of a licensee

under, and in accordance with, an agency contract except as provided in

subdivision (c) of this section.

(c) An agent, other than a person expressly excepted from the

application of this article, who sells or delivers the licensee's checks

over-the-counter to the public shall not be exempt from licensing under

this article if such agent in the ordinary conduct of such business

receives or at any time has access to (1) the licensee's checks which,

having been paid, are returned through banking channels or otherwise for

verification or for reconciliation or accounting with respect thereto or

(2) bank statements relating to checks so returned. No license under

this article shall be required of an agent, including a general or

managing agent, of a licensee who does not directly sell or deliver the

licensee's checks over-the-counter to the public.