N.Y. Cannabis Law § 128: Permits, registrations and licenses

§ 128. Permits, registrations and licenses. 1. No permit, registration

or license shall be transferable or assignable except that

notwithstanding any other provision of law, the permit, registration or

license of a sole proprietor converting to corporate form, where such

proprietor becomes the sole stockholder and only officer and director of

such new corporation, may be transferred to the subject corporation if

all requirements of this chapter remain the same with respect to such

permit, registration or license as transferred and, further, the

registered organization or licensee shall transmit to the board, within

ten days of the transfer of license allowable under this subdivision, on

a form prescribed by the board, notification of the transfer of such

license.

2. No permit, registration or license shall be pledged or deposited as

collateral security for any loan or upon any other condition; and any

such pledge or deposit, and any contract providing therefor, shall be

void.

3. Permits, registrations and licenses issued under this chapter shall

contain, in addition to any further information or material to be

prescribed by the rules and regulations of the board, the following

information:

(a) name of the person to whom the license is issued;

(b) type of license and what type of cannabis commerce is thereby

permitted;

(c) description by street and number, or otherwise, of licensed

premises; and

(d) a statement in substance that such license shall not be deemed a

property or vested right, and that it may be revoked at any time

pursuant to law.