This text of New York § 372 (Fees and charges; posting schedule; records and reports) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
§ 372. Fees and charges; posting schedule; records and reports.
1.The\nsuperintendent shall, by regulation, establish the maximum fees which\nmay be charged by licensees for cashing a check, draft, or money order.\nNo licensee shall charge or collect any sum for cashing a check, draft,\nor money order in excess of that established by the superintendent's\nregulations; provided, however, that no maximum fee shall apply to the\ncharging of fees by licensees for the cashing of checks, drafts or money\norders for payees of such checks, drafts or money orders that are other\nthan natural persons.\n 2. The schedule of fees and charges permitted under this section shall\nbe conspicuously and continuously posted in every location and mobil\nunit licensed under this article.\n 3. No change in
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§ 372. Fees and charges; posting schedule; records and reports. 1. The\nsuperintendent shall, by regulation, establish the maximum fees which\nmay be charged by licensees for cashing a check, draft, or money order.\nNo licensee shall charge or collect any sum for cashing a check, draft,\nor money order in excess of that established by the superintendent's\nregulations; provided, however, that no maximum fee shall apply to the\ncharging of fees by licensees for the cashing of checks, drafts or money\norders for payees of such checks, drafts or money orders that are other\nthan natural persons.\n 2. The schedule of fees and charges permitted under this section shall\nbe conspicuously and continuously posted in every location and mobil\nunit licensed under this article.\n 3. No change in fees shall become effective earlier than thirty days\nafter the superintendent shall notify the majority leader of the senate,\nthe speaker of the assembly, and the chairmen of both the senate and\nassembly committees on banks of his intention to change fees.\n 4. The fees in effect immediately prior to the effective date of this\nsubdivision shall continue to be the maximum allowable fees until\nrevised by the superintendent's regulations.\n 5. Each licensee shall keep and use in its business such books,\naccounts, and records as the superintendent may require to carry into\neffect the provisions of this article and the rules and regulations made\nby the superintendent hereunder. Every licensee shall preserve such\nbooks, accounts and records for at least two years.\n 6. Before a licensee shall deposit with any banking organization, or\nwith any organization engaged in the business of banking, a check, draft\nor money order cashed by such licensee, the same must be endorsed with\nthe actual name under which such licensee is doing business and must\nhave the words "licensed casher of checks" legibly written or stamped\nimmediately after or below such name.\n 7. Every licensee shall submit to the superintendent, or such person\nas the superintendent may designate, such suspicious activity reports or\ncurrency transaction reports as are required to be submitted to federal\nauthorities pursuant to provisions of the Bank Secrecy Act (subchapter\n11, chapter 53, title 31, United States code) and regulations and\nadministrative orders related thereto, as amended, within the periods of\ntime as required by such act and regulations. A licensee may submit a\ncopy of any such report to the superintendent, or such person as the\nsuperintendent may designate, that is filed with such federal\nauthorities. The superintendent may adopt such regulations or require\nsuch additional reports as he or she deems necessary to insure the\neffective enforcement of this subdivision.\n