§ 650 — Violations and penalties

New York § 650

• Jurisdiction: New York
• Law BNK: Banking
• Art. 13-B: Transmitters of Money

Text

§ 650. Violations and penalties. 1. Any person who violates or\nparticipates in the violation of any provisions of this article, or who\nknowingly makes any incorrect statement of a material fact in any\napplication, report or statement made pursuant to this article, or who\nknowingly omits to state any material fact necessary to give the\nsuperintendent any information lawfully required by him or refuses to\npermit any lawful investigation by the superintendent shall be guilty of\na misdemeanor and, upon conviction, shall be fined not more than five\nhundred dollars or imprisoned for not more than six months or both, in\nthe discretion of the court.\n 2. a. Any person who either (1) engages in the business of receiving\nmoney for transmission or transmitting the same or (2) sells or issues\nNew York instruments or New York traveler's checks as those terms are\ndefined by section six hundred fifty-three of this chapter, without a\nlicense therefor obtained from the superintendent as provided in this\narticle, shall be guilty of a Class A misdemeanor.\n b. Any person who violates paragraph a of this subdivision and in the\ncourse of that violation:\n (1) knowingly receives or agrees to receive for transmission from one\nor more individuals a total of ten thousand dollars or more in a single\ntransaction, a total of twenty-five thousand dollars or more during a\nperiod of thirty days or less, or a total of two hundred fifty thousand\ndollars or more during a period of one year or less; or\n (2) knowingly sells or issues New York instruments or New York\ntraveler's checks to one or more individuals totaling ten thousand\ndollars or more in a single transaction, a total of twenty-five thousand\ndollars or more during a period of thirty days or less, or a total of\ntwo hundred fifty thousand dollars or more during a period of one year\nor less; or\n (3) knowingly engages in the business of receiving money for\ntransmitting or transmitting the same, knowing such money to be the\nproceeds of any criminal conduct; or\n (4) knowingly sells or issues New York instruments or New York\ntraveler's checks as those terms are defined by section six hundred\nfifty-three of this chapter, knowing such instruments or checks to be\npurchased with the proceeds of or derived from any criminal conduct;\nshall be guilty of a class E felony.\n 3. Any licensee who fails to make any report required by the\nsuperintendent pursuant to this article, on or before the day designated\nfor the making thereof, or fails to include therein any prescribed\nmatter, shall forfeit to the people of the state an amount as determined\npursuant to section forty-four-a of this chapter for every day that such\nreport shall be delayed or withheld, and for every day that it shall\nfail to report any such omitted matter, unless the superintendent shall,\nin his or her sole discretion, for good cause shown, reduce the amount\nto be forfeited, or unless the time therefor shall have been extended by\nthe superintendent, as provided in subdivision four of this section.\n 4. The superintendent may extend, for a period not exceeding ninety\ndays, the time within which a licensee is required to make any report\nrequired by the superintendent pursuant to this article.\n