N.Y. Business Corporation Law § 1605: Violations; penalties

§ 1605. Violations; penalties.

(a) Every person who willfully violates any provision of this article

shall be guilty of a class E felony; every person who willfully violates

any order, rule or regulation issued pursuant thereto, shall be guilty

of a class A misdemeanor.

(b) A violation of any provision of this article shall constitute a

fraudulent practice within the meaning of article twenty-three-A of the

general business law.

(c) Every person who violates any provision of this article shall be

subject to a civil penalty of one thousand dollars per violation if a

natural person or ten thousand dollars per violation if a corporation.

When the violation is the failure to file a registration statement as

required by subdivision (a) of section sixteen hundred two of this

article, the failure to file a solicitation or recommendation as

required by subdivision (c) of section sixteen hundred two of this

article, or the failure to amend such registration statement as required

by subdivision (b) of section sixteen hundred three of this article,

each business day of non-registration or failure to file a

recommendation or solicitation or failure to amend constitutes a

separate violation. The penalty imposed by this section shall be

cumulative and more than one penalty shall be recoverable in the same

action in any court of competent jurisdiction.