1. The Laws of New York
  2. Consolidated Laws
  3. General Business
  4. Article 5: Collateral Loan Brokers


Section 52 Term "collateral loan broker", how to be construed

General Business (GBS)

Term "collateral loan broker", how to be construed. The term "collateral loan broker" contained in this article shall be construed so as to include any person, partnership, or corporation: (1) loaning money on deposit or pledge of personal property, other than securities or printed evidences of indebtedness; or (2) dealing in the purchasing of personal property on condition of selling back at a stipulated price; or (3) designated or doing business as furniture storage warehousemen, and loaning and advancing money upon goods, wares or merchandise pledged or deposited as collateral security.