S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6444
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                              March 14, 2025
                                ___________
 
 Introduced  by Sen. HARCKHAM -- read twice and ordered printed, and when
   printed to be committed to the Committee on Consumer Protection
 
 AN ACT to amend the general business law, in relation  to  recordkeeping
   requirements for second-hand dealers and pawnbrokers
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 41 of the general business law, as amended by chap-
 ter 669 of the laws of 2022, is amended to read as follows:
   § 41. Licenses, how obtained; penalty for carrying on business without
 license. The mayor or such local licensing authority may  from  time  to
 time  grant, under [his or her] THEIR hand and the official seal of [his
 or her] THEIR office, to such citizens, or noncitizens lawfully admitted
 for permanent residence in the United States, as [he or she] SUCH  MAYOR
 OR  SUCH  LOCAL  LICENSING  AUTHORITY  shall  deem  proper and who shall
 produce to [him] SUCH MAYOR OR SUCH LOCAL LICENSING AUTHORITY  satisfac-
 tory evidence of their good character, a license authorizing such person
 to  carry  on  the  business  of a collateral loan broker, which license
 shall designate the house in which such person shall carry on said busi-
 ness, and no person, corporation, partnership or firm shall carry on the
 business of a collateral loan broker without being duly licensed, nor in
 any other house than the one designated in said license, under a penalty
 of one hundred dollars for each day  [he,  she  or  they]  SUCH  PERSON,
 CORPORATION,  PARTNERSHIP  OR FIRM shall exercise or carry on said busi-
 ness without such license or at any other house than the one  so  desig-
 nated.    A COLLATERAL LOAN BROKER MAY CONDUCT BUSINESS VIA THE INTERNET
 PROVIDED THE REQUIREMENTS OF THIS  CHAPTER  ARE  SATISFIED.  Any  person
 receiving  such  license  shall  pay  therefor  the  sum of five hundred
 dollars for the use of the city yearly where  such  business  is  to  be
 conducted  in a city with a population of more than one million persons,
 and where the business is to be conducted elsewhere  the  fee  for  such
 license  shall  not  exceed  two hundred fifty dollars yearly, and every
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10927-01-5
              

 S. 6444                             2
 
 such license shall expire one year from the date  thereof,  and  may  be
 renewed  on  application  to the mayor or local licensing authority each
 and every year on payment of the same sum and upon  performance  of  the
 other  conditions  herein  contained. Every person so licensed shall, at
 the time of receiving such license, file with the mayor  or  such  local
 licensing  authority  granting the same a bond to the local authorities,
 to be executed by the person so licensed and by  two  responsible  sure-
 ties,  in  the penal sum of ten thousand dollars, to be approved by such
 mayor or local licensing authority, which bond shall be conditioned  for
 the faithful performance of the duties and obligations pertaining to the
 business  so  licensed,  and the mayor or such local licensing authority
 shall have full power and authority to revoke such license for cause.
   § 2. Section 43 of the general business law, as amended by chapter 867
 of the laws of 1986, is amended to read as follows:
   § 43. Certain entries to be made [in book]; ELECTRONIC RECORD.   Every
 such  collateral loan broker shall keep [a book in which shall be fairly
 written, at the time of such loan, an account  and  description  of  the
 goods,  articles or things pawned or pledged, the amount of money loaned
 thereon, the time of pledging the same, the rate of interest to be  paid
 on  such  loan, the name and residence of the person pawning or pledging
 the said goods, articles or things and a notation of whether the pledgor
 claims to be the owner, consignee or agent of the owner]  AN  ELECTRONIC
 RECORD PURSUANT TO THE PROVISIONS OF ARTICLE FIVE-B OF THIS CHAPTER.
   § 3. Section 45 of the general business law, as amended by chapter 321
 of the laws of 1983, is amended to read as follows:
   §  45.  [Book] RECORDS to be open to inspection. The said [book] ELEC-
 TRONIC RECORD and any and all other [books and] records  regularly  kept
 by  such collateral loan broker shall at all reasonable times be open to
 the inspection of the attorney general, the state comptroller, the mayor
 or local licensing authority, all judges of  the  criminal  courts,  the
 superintendent  of  police,  police  inspectors,  captains of police and
 police justices of such cities, or any or either  of  them,  or  of  any
 person  who  shall be duly authorized in writing for that purpose by any
 or either of them, and who shall exhibit such written authority to  such
 collateral  loan broker.  SUCH POWER OF INSPECTION SHALL BE EXERCISED BY
 THE AFOREMENTIONED AUTHORIZED PARTIES, OR THEIR AUTHORIZED  AGENTS,  FOR
 THE  SOLE  PURPOSE  OF  VERIFICATION  OF COMPLIANCE WITH STATE AND LOCAL
 STATUTORY AND REGULATORY REQUIREMENTS, INCLUSIVE OF THE COMPLETENESS AND
 ACCURACY OF THE LICENSEE'S RECORDS INCLUDING TIMELINESS OF ENTRY.   SAID
 VERIFICATION MAY INCLUDE AN EXAMINATION OF NOT MORE THAN THE LAST TWENTY
 ITEMS  PLEDGED  AND  MAY  INCLUDE  THE PHYSICAL EXAMINATION OF EACH SUCH
 PLEDGE AND THE CORRESPONDING RECORD, INCLUDING PHOTOGRAPHIC  RECORD,  IF
 ANY.  The  mayor or the licensing authority of any local governing body,
 the state comptroller, the attorney general and any person duly  author-
 ized  by  them  shall  have the power to administer oaths and to examine
 under oath any such collateral loan broker or any officer, or agent,  of
 such  collateral  loan  broker  and  any  other person having custody or
 control of such [books and] records. Such [books and] records  shall  be
 retained in the possession of the collateral loan broker, in good condi-
 tion  and  in  an  orderly  fashion for at least a period of six years.
 NOTHING HEREIN SHALL BE CONSTRUED TO IMPEDE THE USE OF WARRANTS, SUBPOE-
 NAS OR  OTHER  LAWFUL  PROCESS  RESPECTING  ITEMS  PLEDGED  AND  RECORDS
 PERTAINING  THERETO,  PROVIDED  THAT  SAID  WARRANTS, SUBPOENAS OR OTHER
 LAWFUL PROCESS ARE PREDICATED  UPON  REASONABLE  SUSPICION  OF  UNLAWFUL
 CONDUCT.
 S. 6444                             3
 
   §  4.  The  second undesignated paragraph of section 47 of the general
 business law, as added by chapter 534 of the laws of 2007, is amended to
 read as follows:
   A  collateral  loan  broker engaged in the purchase or sale of second-
 hand articles, other than pledges or pawn  tickets,  shall  comply  with
 STATE  AND  local  laws  or regulations governing dealers in second-hand
 articles. A collateral loan broker engaged in the  purchase  of  second-
 hand  articles shall provide the seller a receipt setting forth the item
 or items purchased and the purchase price for each  item.  Additionally,
 the  receipt shall include a notice advising the seller of the option to
 cancel the transaction within five business days or convert the sale  of
 jewelry,  watches,  precious stones, precious metals and coins to a loan
 within fourteen days of the sale in accordance with this section.
   § 5. The general business law is amended by adding a new  article  5-B
 to read as follows:
                                 ARTICLE 5-B
    RECORDKEEPING REQUIREMENTS FOR SECOND-HAND DEALERS AND PAWNBROKERS
 SECTION 57. REPORTS TO THE SECRETARY OF STATE.
         57-A. RECORD OF PURCHASES AND SALES.
         57-B. ELECTRONIC REPORTING TO THE SECRETARY OF STATE.
         57-C. PENALTIES.
   §  57.  REPORTS TO THE SECRETARY OF STATE. EVERY DEALER IN SECOND-HAND
 ARTICLES WHO DEALS IN THE PURCHASE OR SALE OF ANY  SECOND-HAND  MANUFAC-
 TURED  ARTICLE COMPRISED WHOLLY OR IN PART OF GOLD, SILVER, PLATINUM, OR
 OTHER PRECIOUS METALS, OR DEALS IN THE PURCHASE OR SALE OF ANY OLD GOLD,
 SILVER, PLATINUM OR OTHER PRECIOUS METALS, OR DEALS IN THE  PURCHASE  OF
 ARTICLES OR THINGS COMPRISED OF GOLD, SILVER, PLATINUM OR OTHER PRECIOUS
 METALS  FOR THE PURPOSE OF MELTING OR REFINING, OR DEALS IN THE PURCHASE
 OR SALE OF USED ELECTRICAL APPLIANCES EXCLUDING KITCHEN  APPLIANCES,  OR
 DEALS  IN THE PURCHASE OR SALE OF ANY USED ELECTRONIC EQUIPMENT, COMPUT-
 ERS OR COMPONENT PARTS OF ELECTRONIC EQUIPMENT OR COMPUTERS, SHALL  MAKE
 AVAILABLE  TO  THE  SECRETARY  OF  STATE THE RECORDS REQUIRED TO BE KEPT
 PURSUANT TO PARAGRAPHS (A) AND (D) OF SUBDIVISION ONE OF SECTION  FIFTY-
 SEVEN-A  OF  THIS  ARTICLE WITH RESPECT TO SUCH TRANSACTIONS IN A MANNER
 SPECIFIED BY THE SECRETARY OF STATE FOR THE NEW YORK STATE DEPARTMENT OF
 STATE BY RULE AND REGULATION, WHICH MAY INCLUDE THE REAL-TIME SHARING OR
 ACCESSING OF SUCH RECORDS IN AN ELECTRONIC FORMAT AND/OR THROUGH USE  OF
 AN  INTERNET  WEBSITE  DESIGNATED  BY THE SECRETARY OF STATE.   SHARING,
 ACCESSING AND REPORTING PROVISIONS SET FORTH IN THIS SECTION  SHALL  NOT
 BE  REQUIRED  IN  THE ABSENCE OF A LOCAL LAW REQUIRING THE SAME. NOTHING
 HEREIN SHALL BE CONSTRUED TO IMPEDE THE USE OF  WARRANTS,  SUBPOENAS  OR
 OTHER  LAWFUL  PROCESS RESPECTING ITEMS PURCHASED AND RECORDS PERTAINING
 THERETO, PROVIDED THAT SAID WARRANTS, SUBPOENAS OR OTHER LAWFUL  PROCESS
 ARE  PREDICATED UPON REASONABLE SUSPICION OF UNLAWFUL CONDUCT.  A SECOND
 HAND DEALER MAY CONDUCT BUSINESS VIA THE INTERNET PROVIDED THE  REQUIRE-
 MENTS OF THIS CHAPTER ARE SATISFIED.
   § 57-A. RECORD OF PURCHASES AND SALES. 1.  EVERY DEALER IN SECOND-HAND
 ARTICLES WHO DEALS IN THE PURCHASE OF ANY SECOND-HAND MANUFACTURED ARTI-
 CLE  COMPOSED  WHOLLY  OR  IN  PART  OF GOLD, SILVER, PLATINUM, OR OTHER
 PRECIOUS METALS, OR DEALS IN THE PURCHASE  OR  SALE  OF  ANY  OLD  GOLD,
 SILVER,  PLATINUM  OR OTHER PRECIOUS METALS, OR DEALS IN THE PURCHASE OF
 ARTICLES OR THINGS COMPRISED OF GOLD, SILVER, PLATINUM OR OTHER PRECIOUS
 METALS FOR THE PURPOSE OF MELTING OR REFINING, OR DEALS IN THE  PURCHASE
 OR  SALE  OF USED ELECTRICAL APPLIANCES EXCLUDING KITCHEN APPLIANCES, OR
 DEALS IN THE PURCHASE OR SALE OF ANY USED ELECTRONIC EQUIPMENT,  COMPUT-
 ERS,  OR  MOBILE  PHONES,  OR COMPONENT PARTS OF ELECTRONIC EQUIPMENT OR
 S. 6444                             4

 COMPUTERS, SHALL WITH RESPECT TO SUCH TRANSACTIONS CREATE AN  ELECTRONIC
 RECORD IN ENGLISH, IN A MANNER TO BE SPECIFIED BY THE SECRETARY OF STATE
 BY  RULE OR REGULATION. SUCH ELECTRONIC RECORD MAY INCLUDE THE REAL-TIME
 SHARING  OR ACCESSING OF THE INFORMATION SPECIFIED IN PARAGRAPHS (A) AND
 (D) OF THIS SUBDIVISION IN AN ELECTRONIC FORMAT AND/OR THROUGH USE OF AN
 INTERNET WEBSITE DESIGNATED BY THE SECRETARY OF STATE.  SUCH  ELECTRONIC
 RECORD SHALL BE RETAINED FOR A MINIMUM PERIOD OF SIX YEARS FROM THE DATE
 OF  PURCHASE.  SUCH  ELECTRONIC RECORD SHALL BE LIMITED TO THE FOLLOWING
 INFORMATION, PROVIDED IN A FORMAT OR IN ACCORDANCE  WITH  SPECIFICATIONS
 AS PROVIDED BY RULE OR REGULATION OF THE SECRETARY OF STATE:
   (A) THE DATE, TIME, LOCATION AND TYPE OF TRANSACTION;
   (B)  THE  NAME  OF  THE  INDIVIDUAL CONDUCTING THE TRANSACTION FOR THE
 DEALER;
   (C) IDENTIFYING INFORMATION REGARDING  THE  PERSON  OFFERING  PROPERTY
 PURCHASED  BY THE DEALER, INCLUDING NAME, ADDRESS, PHONE NUMBER, TYPE OF
 IDENTIFICATION UTILIZED, IDENTIFICATION NUMBER, EXPIRATION DATE OF IDEN-
 TIFICATION, DATE OF BIRTH, SEX, RACE OR ETHNICITY, DISTINGUISHING MARKS,
 AND A DIGITAL PHOTOGRAPH OR SCANNED COPY OF IDENTIFICATION UTILIZED  AND
 A SIGNATURE;
   (D)  AN ACCURATE DESCRIPTION OF EACH ARTICLE PURCHASED, INCLUDING TYPE
 OF ARTICLE, MANUFACTURER, MAKE, MODEL NUMBER,  SERIAL  NUMBER,  INTERNA-
 TIONAL  MOBILE  EQUIPMENT  IDENTIFIER,  ELECTRONIC SERIAL NUMBER, MOBILE
 EQUIPMENT IDENTIFIER, INSCRIPTIONS OR DISTINGUISHING MARKS, AND  ONE  OR
 MORE  DIGITAL PHOTOGRAPHS REASONABLY CAPTURING THE LIKENESS OF THE ARTI-
 CLE, PROVIDED HOWEVER THAT NO PHOTOGRAPHS SHALL BE REQUIRED FOR FUNGIBLE
 ITEMS.
   2. A DEALER IN SECOND-HAND  ARTICLES  SUBJECT  TO  THE  PROVISIONS  OF
 SUBDIVISION ONE OF THIS SECTION SHALL ACQUIRE AND MAINTAIN IN GOOD WORK-
 ING  ORDER THE ELECTRONIC EQUIPMENT NECESSARY TO CREATE AND MAINTAIN THE
 ELECTRONIC RECORDS REQUIRED BY THIS SECTION, INCLUDING BUT  NOT  LIMITED
 TO  A COMPUTER WITH INTERNET CONNECTION, AN ELECTRONIC SIGNATURE PAD AND
 A DIGITAL CAMERA UTILIZING A FILE FORMAT DESIGNATED BY THE SECRETARY  OF
 STATE.
   3.  THE  RECORDS  REQUIRED  BY  THIS  SECTION,  SHALL  BE  OPEN TO THE
 INSPECTION OF ANY POLICE OFFICER, THE SECRETARY OF STATE OR ANY  DEPART-
 MENTAL  INSPECTOR,  ANY  JUDGE  OF  A CRIMINAL COURT, OR ANY PERSON DULY
 AUTHORIZED IN WRITING FOR SUCH PURPOSES BY THE SECRETARY OF STATE OR  BY
 ANY  JUDGE OF A CRIMINAL COURT, WHO SHALL EXHIBIT SUCH WRITTEN AUTHORITY
 TO THE DEALER.  SUCH RECORDS SHALL ALSO BE OPEN TO THE INSPECTION OF ANY
 OFFICIAL OR OTHER PERSON IDENTIFIED IN, OR DULY  AUTHORIZED  IN  WRITING
 PURSUANT  TO,  ANY  OTHER  APPLICABLE STATE OR LOCAL LAW.  SUCH POWER OF
 INSPECTION SHALL BE EXERCISED BY THE AFOREMENTIONED AUTHORIZED  PARTIES,
 OR  THEIR  AUTHORIZED  AGENTS,  FOR  THE SOLE PURPOSE OF VERIFICATION OF
 COMPLIANCE WITH STATE AND LOCAL STATUTORY AND  REGULATORY  REQUIREMENTS,
 INCLUSIVE  OF  THE  COMPLETENESS  AND ACCURACY OF THE LICENSEE'S RECORDS
 INCLUDING TIMELINESS OF ENTRY.  SAID VERIFICATION MAY INCLUDE  AN  EXAM-
 INATION OF NOT MORE THAN THE LAST TWENTY ITEMS PURCHASED AND MAY INCLUDE
 THE  PHYSICAL EXAMINATION OF EACH SUCH ITEM AND THE CORRESPONDING RECORD
 INCLUDING PHOTOGRAPHIC RECORD. SUCH RECORDS SHALL  BE  RETAINED  IN  THE
 POSSESSION OF THE SECOND-HAND DEALER, IN GOOD CONDITION AND IN AN ORDER-
 LY FASHION FOR AT LEAST A PERIOD OF SIX YEARS.   NOTHING HEREIN SHALL BE
 CONSTRUED TO IMPEDE THE USE OF WARRANTS, SUBPOENAS OR OTHER LAWFUL PROC-
 ESS  RESPECTING ITEMS PURCHASED AND RECORDS PERTAINING THERETO, PROVIDED
 THAT SAID WARRANTS, SUBPOENAS OR OTHER  LAWFUL  PROCESS  ARE  PREDICATED
 UPON REASONABLE SUSPICION OF UNLAWFUL CONDUCT.
 S. 6444                             5
 
   4.  NOTWITHSTANDING  ANY  LOCAL LAW AND ORDINANCES TO THE CONTRARY AND
 EXCEPT AS OTHERWISE PROVIDED IN THIS CHAPTER,  OTHER  STATE  OR  FEDERAL
 LAW,  SECOND-HAND  DEALERS  SHALL NOT BE REQUIRED TO COPY, CREATE, MAIN-
 TAIN, TRANSMIT OR   MAKE AVAILABLE,  ELECTRONICALLY  OR  OTHERWISE,  ANY
 RECORDS OF PURCHASES OR SALE TRANSACTIONS.
   § 57-B. ELECTRONIC REPORTING TO THE SECRETARY OF STATE. 1. EVERY PAWN-
 BROKER,  SHALL  MAKE  AVAILABLE  TO  THE  SECRETARY OF STATE THE RECORDS
 REQUIRED TO BE KEPT PURSUANT TO PARAGRAPHS (A), (D)  AND (E) OF SUBDIVI-
 SION TWO OF THIS SECTION, IN A MANNER TO BE SPECIFIED BY  THE  SECRETARY
 OF  STATE BY RULE OR REGULATION, WHICH MAY INCLUDE THE REAL-TIME SHARING
 OR ACCESSING OF SUCH RECORDS IN AN ELECTRONIC FORMAT AND/OR THROUGH  USE
 OF AN INTERNET WEBSITE DESIGNATED BY THE SECRETARY OF STATE.
   2.  EVERY  PAWNBROKER SHALL CREATE AT THE TIME OF TRANSACTION AN ELEC-
 TRONIC RECORD IN ENGLISH, IN A MANNER TO BE SPECIFIED BY  THE  SECRETARY
 OF STATE BY RULE OR REGULATION, WHICH MAY INCLUDE THE USE OF AN INTERNET
 WEBSITE  DESIGNATED  BY  THE SECRETARY OF STATE, OF EVERY TRANSACTION IN
 WHICH GOODS, ARTICLES OR  THINGS,  OR  ANY  PART  THEREOF,  ARE  PAWNED,
 PLEDGED  OR REDEEMED IN THE COURSE OF BUSINESS OF SUCH PAWNBROKER. SHAR-
 ING, ACCESSING AND REPORTING PROVISIONS SPECIFIED HEREIN  SHALL  NOT  BE
 REQUIRED  IN THE ABSENCE OF A LOCAL LAW REQUIRING THE SAME.  IN NO EVENT
 SHALL INFORMATION BE SUBJECT TO  SHARING, ACCESSING OR REPORTING EXCEPT-
 ING INFORMATION REQUIRED TO BE REPORTED PURSUANT TO PARAGRAPHS (A),  (D)
 AND  (E)  OF  THIS SUBDIVISION. SUCH ELECTRONIC RECORD SHALL BE RETAINED
 FOR A MINIMUM PERIOD OF SIX YEARS FROM THE DATE OF THE TRANSACTION. SUCH
 ELECTRONIC  RECORD  SHALL  BE  LIMITED  TO  THE  FOLLOWING  INFORMATION,
 PROVIDED IN A FORMAT OR IN ACCORDANCE WITH SPECIFICATIONS AS PROVIDED BY
 RULE OR REGULATION OF THE SECRETARY OF STATE:
   (A) THE DATE, TIME, LOCATION AND TYPE OF TRANSACTION;
   (B)  THE  NAME  OF  THE  INDIVIDUAL CONDUCTING THE TRANSACTION FOR THE
 PAWNBROKER;
   (C) IDENTIFYING INFORMATION REGARDING  THE  PLEDGOR,  INCLUDING  NAME,
 ADDRESS,  PHONE  NUMBER, TYPE OF IDENTIFICATION UTILIZED, IDENTIFICATION
 NUMBER, EXPIRATION DATE OF IDENTIFICATION, A SIGNATURE, DATE  OF  BIRTH,
 SEX,  HEIGHT,  WEIGHT, EYE COLOR, HAIR COLOR, RACE OR ETHNICITY, DISTIN-
 GUISHING MARKS, DIGITAL PHOTOGRAPH OR  SCANNED  COPY  OF  IDENTIFICATION
 UTILIZED,  AND  WHETHER  THE PLEDGOR IS THE OWNER, CONSIGNEE OR AGENT OF
 THE OWNER;
   (D) AN ACCURATE DESCRIPTION OF EACH ARTICLE PAWNED OR PLEDGED, INCLUD-
 ING TYPE OF ARTICLE, MANUFACTURER, MAKE, MODEL  NUMBER,  SERIAL  NUMBER,
 INTERNATIONAL  MOBILE  EQUIPMENT  IDENTIFIER,  ELECTRONIC SERIAL NUMBER,
 MOBILE EQUIPMENT IDENTIFIER, INSCRIPTIONS OR DISTINGUISHING  MARKS,  AND
 ONE OR MORE DIGITAL PHOTOGRAPHS REASONABLY CAPTURING THE LIKENESS OF THE
 ARTICLE,  PROVIDED  HOWEVER  THAT  NO  PHOTOGRAPHS SHALL BE REQUIRED FOR
 FUNGIBLE ITEMS;
   (E) THE PLEDGE NUMBER OF THE PAWN TICKET;
   (F) THE AMOUNT LOANED OR ADVANCED THEREON AND THE RATE OF INTEREST  TO
 BE PAID ON SUCH LOAN OR ADVANCE.
   3. THE PAWNBROKER SHALL ACQUIRE AND MAINTAIN IN GOOD WORKING ORDER THE
 ELECTRONIC  EQUIPMENT  NECESSARY  TO  CREATE AND MAINTAIN THE ELECTRONIC
 RECORDS REQUIRED BY THIS SECTION, INCLUDING BUT NOT LIMITED TO A COMPUT-
 ER WITH INTERNET CONNECTION, AN ELECTRONIC SIGNATURE PAD AND  A  DIGITAL
 CAMERA UTILIZING A FILE FORMAT DESIGNATED BY THE SECRETARY OF STATE.
   4. THE ELECTRONIC RECORDS REQUIRED BY THIS SECTION SHALL  BE  OPEN  TO
 INSPECTION PURSUANT TO SECTION FORTY-FIVE OF THIS CHAPTER.
   5.  NOTWITHSTANDING  ANY  LOCAL LAW AND ORDINANCES TO THE CONTRARY AND
 EXCEPT AS PROVIDED IN THIS CHAPTER, OTHER STATE OR FEDERAL LAW,  COLLAT-
 S. 6444                             6
 
 ERAL LOAN BROKERS SHALL NOT BE REQUIRED TO COPY, CREATE, MAINTAIN, TRAN-
 SMIT  OR  MAKE  AVAILABLE,  ELECTRONICALLY  OR OTHERWISE, ANY RECORDS OF
 PLEDGES, PURCHASES, FORECLOSURES OR SALE TRANSACTIONS.
   6. IN ADDITION TO ANY OTHER APPLICABLE PENALTY OR SANCTION, ANY PERSON
 WHO  VIOLATES ANY OF THE PROVISIONS OF THIS SECTION OR RULES PROMULGATED
 THEREUNDER SHALL BE SUBJECT  TO  THE  PENALTIES  SET  FORTH  IN  SECTION
 FIFTY-SEVEN-C OF THIS ARTICLE.
   §   57-C.   PENALTIES.   1. EXCEPT AS OTHERWISE SPECIFICALLY PROVIDED,
 ANY PERSON WHO VIOLATES ANY PROVISION OF THIS ARTICLE OR ANY  REGULATION
 OR  RULE    PROMULGATED    THEREUNDER SHALL, UPON CONVICTION THEREOF, BE
 PUNISHED FOR EACH VIOLATION BY A FINE OF  NOT  LESS  THAN    TWENTY-FIVE
 DOLLARS  NOR  MORE  THAN  FIVE  HUNDRED  DOLLARS, OR BY IMPRISONMENT NOT
 EXCEEDING FIFTEEN DAYS,  OR   BOTH;   AND   ANY   SUCH PERSON  SHALL  BE
 SUBJECT  ALSO  TO A CIVIL PENALTY IN THE SUM OF ONE HUNDRED DOLLARS  FOR
 EACH  VIOLATION,  TO  BE RECOVERED IN A CIVIL ACTION.
   2.  THE ATTORNEY GENERAL IS AUTHORIZED TO BRING AN INJUNCTION PROCEED-
 ING TO RESTRAIN OR ENJOIN ANY VIOLATION OF THIS ARTICLE.
   § 6. This act shall take effect on the one hundred eightieth day after
 it  shall have become a law. Effective immediately, the addition, amend-
 ment and/or repeal of  any  rule  or regulation necessary for the imple-
 mentation of this act on its effective date are authorized  to  be  made
 and  completed on or before such effective date.