§ 370 — Restrictions as to place or area of doing business; establishment of stations; change of location

New York § 370

• Jurisdiction: New York
• Law BNK: Banking
• Art. 9-A: Licensed Cashers of Checks

Text

§ 370. Restrictions as to place or area of doing business;\nestablishment of stations; change of location. 1. No more than one place\nof business or one mobile unit shall be maintained under the same\nlicense; provided, however, that more than one license may be issued to\nthe same licensee upon compliance with the provisions of this article\nfor each new license.\n 2. Any licensed casher of checks may open and maintain, within this\nstate, one or more limited stations for the purpose of cashing checks,\ndrafts or money orders for the particular group or groups specified in\nthe license authorizing each such station. Such stations shall be\nlicensed pursuant to and be subject to all the provisions of this\nchapter applicable to licensed cashers of checks, except that (a) such\nstation shall not be subject to the distance limitation set forth in\nsubdivision one of section three hundred sixty-nine of this article, (b)\nthe fee for investigating the application for a station shall be as\nprescribed pursuant to section eighteen-a of this chapter, and (c) where\nsuch a station is at the premises of a specified employer for the\npurpose of cashing checks, drafts and money orders for the employees of\nsuch employer, the fees and charges for cashing such checks, drafts or\nmoney orders shall not be subject to the limitations of subdivision one\nof section three hundred seventy-two of this article if such fees and\ncharges are paid by such employer.\n 3. A licensee may make a written application to the superintendent for\nleave to change his or her place of business, or in the case of a mobile\nunit, the area in which such unit is authorized to be operated, stating\nthe reasons for such proposed change. Such application may be approved\nfor relocation from a site within three-tenths of a mile of another\nlicensee to another site within three-tenths of a mile of such other\nlicensee provided that such new site is farther from such existing\nlicensee than the site from which permission to relocate is sought. Only\nin situations in which a licensee seeks to change its place of business\ndue to extraordinary circumstances, as may be determined by the\nsuperintendent pursuant to regulations, may the superintendent, in his\nor her discretion, determine that an application may be approved for\nrelocation from a site within three-tenths of a mile of another licensee\nto a new site which is closer to such existing licensee than the site\nfrom which permission to relocate is sought. Notwithstanding any other\nprovision of this subdivision, a licensee may relocate from any location\nto a location that is within three-tenths of a mile from another\nlicensee with the written consent of the other licensee. If the\nsuperintendent approves such application he or she shall issue a new\nlicense in duplicate in accordance with the provisions of section three\nhundred sixty-nine of this article, stating the new location of such\nlicensee or, in the case of a mobile unit, the new area in which such\nmobile unit may be operated.\n