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This entry was published on 2014-09-22
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SECTION 53
Registration statements
General Business (GBS) CHAPTER 20, ARTICLE 5
§ 53. Registration statements. After September first, nineteen hundred
sixty, no person, corporation, partnership, firm or association shall
carry on the business of collateral loan broker within the state of New
York unless and until such collateral loan broker shall have caused to
be filed in the office of the state comptroller upon forms prescribed by
him a statement, duly verified as hereinafter provided, to be known as
"Collateral Loan Broker's Registration Statement" containing:

a. The name of such collateral loan broker.

b. The address of the principal office of such collateral loan broker,
if any, wherever situated, and the address or addresses of the principal
office of such collateral loan broker within this state, if any.

c. If such collateral loan broker be a partnership, the names,
residences and business addresses of the partners, including special or
limited partners, and of all other individuals participating as
principals in the profits of such business, specifying as to each the
nature of his relation to such business.

d. If such collateral loan broker be other than an individual or
partnership, the name of the state where incorporated or organized and
the names, residences and business addresses of its principal officers,
wherever located, and all its officers in this state, specifying as to
each the nature of his relation to such business.

e. The date on which such collateral loan broker acquired a license
and the name and location of the local governing body under whose hand
and seal or authority said license was obtained under the provisions of
this article.

f. In the event that after any collateral loan broker shall have filed
a statement as above, any change shall take place in the personnel of
the partners, principals, officers or in the location of the principal,
such collateral loan broker shall file a statement with the state
comptroller to be known as a "Collateral Loan Broker's Supplemental
Registration Statement", duly verified as hereinafter provided, setting
forth in full the details thereof.

g. Each such collateral loan broker statement and each collateral loan
broker supplemental statement shall be verified by the collateral loan
broker, or if such collateral loan broker be a partnership, by a general
partner thereof, or, if such collateral loan broker be other than an
individual or partnership, by a principal officer thereof, and shall
state that the facts therein stated are true to his own knowledge;
providing that in case of a statement or supplemental statement by a
collateral loan broker other than an individual the person verifying the
same may state on information and belief the facts therein included with
respect to any other individual, if such collateral loan broker
statement or supplemental statement shall have attached thereto an
affidavit of such other individual stating that all facts contained in
said collateral loan broker statement or supplemental statement with
respect to him are true.

h. The state comptroller may in his discretion adopt forms for the use
of collateral loan brokers for filing any statement with his department
pursuant to the provisions of this section and furnish such forms to
collateral loan brokers without charge or fee therefor. The state
comptroller shall collect the following fees:

For filing each "Collateral Loan Broker's Registration Statement",
five dollars; for filing each "Collateral Loan Broker's Supplemental
Statement", two dollars and fifty cents.

The fees herein enumerated shall be payable at the time of filing and
no filing shall be deemed effective within the meaning of this section
until such fees have been paid.

i. Whenever a collateral loan broker shall have filed any registration
statement or supplemental registration statement required to be filed
under the provisions of this section or shall have prepared in such
registration statement or supplemental registration statement and have
forwarded the same together with the fees required by subdivision h of
this section, postage prepaid and properly addressed, to the office of
the state comptroller in Albany, such collateral loan broker, as to the
filing of such collateral loan broker's statement or supplemental
registration statement shall be deemed to have complied with the
requirements of this section.