N.Y. General Business Law § 553: Notes given for a speculative consideration

§ 553. Notes given for a speculative consideration. A person who

takes, sells or transfers a negotiable promissory note within article

three of the uniform commercial code, knowing the consideration of such

note to consist in whole or in part of the purchase price of any farm

product at a price greater by four or more times than the fair market

value of the same product at the time in the locality, or in which the

consideration shall be in whole or in part, membership of and rights in

an association, company or combination to produce or sell any farm

product at a fictitious rate, or of a contract or bond to purchase or

sell any farm product at such rate, without having the words "given for

a speculative consideration" or other words clearly showing the nature

of the consideration prominently and legibly written or printed on the

face of such note above the signature thereof, is guilty of a

misdemeanor.