N.Y. General Business Law § 41-a: Continuing education requirement

§ 41-a. Continuing education requirement. 1. Every person licensed as

a collateral loan broker pursuant to this article shall, between June

thirtieth, two thousand seven and June twenty-ninth, two thousand nine,

and during every two year period thereafter, complete not less than

twelve hours of continuing education instruction offered in a course or

program approved by any mayor or licensing authority which licenses

collateral loan brokers pursuant to this article. In cities having a

population of one million or more, the commissioner of consumer affairs

shall, on or before January thirty-first, two thousand seven, approve

not less than one twelve hour continuing education instruction course or

program for collateral loan brokers and not less than one eight hour

continuing education instruction course or program for managers of

collateral loan broker businesses, as required by subdivision two of

this section. Every such course or program shall be made available

through at least one distance learning methodology, such as written

materials and questionnaires, internet courses or other electronic means

and shall also be made available through seminars or workshops,

commencing on or before June thirtieth, two thousand seven. Every mayor

and licensing authority shall consult with one or more trade

associations representing collateral loan brokers prior to approving any

continuing education instruction course or program pursuant to this

section.

2. Every collateral loan broker which employs more than three

employees, shall designate one individual as the manager of the

collateral loan broker business. Upon such designation the mayor or

licensing authority, which licenses the collateral loan broker, shall be

provided notice by such broker of the individual who has been designated

as manager of the business. Every individual designated as the manager

of a collateral loan broker business shall, between June thirtieth, two

thousand seven and June twenty-ninth, two thousand nine, and during

every two year period thereafter, complete not less than eight hours of

continuing education instruction for such managers offered in a course

or program approved by any mayor or licensing authority which licenses

collateral loan brokers pursuant to this article.

3. Each collateral loan broker shall designate a manager for each

location at which such broker conducts business and employs more than

three employees and every such manager shall comply with the provisions

of subdivision two of this section.

4. Each approved provider of continuing education instruction pursuant

to this section and each collateral loan broker shall maintain the

records of the provision or receipts of such instruction for not less

than four years.

5. The failure to comply with the provisions of this section shall be

grounds for the suspension, revocation or refusal to issue any license

issued pursuant to this article.