N.Y. General Business Law § 177: Bonds and license fees

§ 177. Bonds and license fees. 1. Every person licensed under the

provisions of this article to carry on the business of an employment

agency shall pay to the commissioner a license fee in accordance with

the following schedule before such license is issued. The minimum fee

for said license shall be five hundred dollars, and for an agency

operating with more than four placement employees, seven hundred

dollars, provided, however, that if the license is to run less than one

year, the fee shall be two hundred fifty dollars and three hundred fifty

dollars respectively, and if the license is to run less than six months,

the fee shall be one hundred twenty-five dollars and one hundred

seventy-five dollars respectively. For the purpose of determining the

license fee which an employment agency shall pay, the applicant for such

license shall state in his application to the commissioner the average

number of placement employees employed by the applicant's employment

agency during the preceding calendar year; or, in the event that the

applicant has not previously conducted an employment agency under the

provisions of this article, he or she shall state the average number of

placement employees which he or she reasonably expects will be employed

by the employment agency during the calendar year in which the license

is issued. If the application for a license is denied or withdrawn,

one-half of the license fee provided herein shall be returned to the

applicant. He or she shall also deposit before such license is issued,

with the commissioner, a bond in the penal sum of five thousand dollars

with two or more sureties or a duly authorized surety company, to be

approved by the commissioner, provided, however, that if the applicant

will engage in the recruitment of domestic or household employees from

outside the continental United States, or will conduct a modeling agency

the bond shall be in the penal sum of ten thousand dollars.

2. The bond executed as provided in subdivision one of this section

shall be payable to the people of the state of New York or of the city

of New York, as the case may be, and shall be conditioned that the

person applying for the license will comply with this article, and shall

pay all damages occasioned to any person by reason of any misstatement,

misrepresentation, fraud or deceit, or any unlawful act or omission of

any licensed person, his agents or employees, while acting within the

scope of their employment, made, committed or omitted in the business

conducted under such license, or caused by any other violation of this

article in carrying on the business for which such license is granted.

The bond also shall be conditioned that the person applying for the

license shall pay the commissioner all fines imposed pursuant to section

one hundred eighty-nine of this article.

3. If at any time the surety or sureties become financially

irresponsible in the judgment of the commissioner or insolvent the

licensed person shall, upon notice from the commissioner, file a new

bond, subject to the provisions of this section. The failure to file a

new bond, within ten days after such notice, in the discretion of the

commissioner, shall operate as a revocation of such license and the

license shall be thereupon returned to the commissioner.