§ 652-B — Tying arrangements

§ 652-b. Tying arrangements. 1. It shall be unlawful for any\ntransmitter of money or its officers, affiliates or subsidiaries to\nenter into an agreement with a check casher, licensed pursuant to the\nprovisions of article nine-A of this chapter, whereby credit is extended\nto the check casher at the same time as, and on the condition that, the\ntransmitter of money enters into an agreement with the check casher\nwhereby the check casher will (1) sell only the New York instruments or\nNew York traveler's checks of the transmitter of money or (2) agree to\nthe exclusive use of any of the other services of the transmitter of\nmoney. This section shall not apply to the issuance by a transmitter of\nmoney of a guarantee of any indebtedness of a check casher licensed\npursuant to the provisions of article nine-A of this chapter.\n 2. For purposes of this section the term "transmitter of money" means\na licensee, as such term is defined in subdivision two of section six\nhundred forty of this article, a bank, trust company, private banker,\nsavings bank, savings and loan association, credit union, foreign\nbanking corporation licensed pursuant to article five of this chapter,\nnational banking association, federal savings bank, federal savings and\nloan association, federal credit union, foreign banking company\nauthorized to operate pursuant to the international banking act of 1978\n(12 USC 3101 et seq.), as amended, and an investment company, which\neither directly or through agents transacts the business in this state\nof selling or issuing New York instruments or New York traveler's\nchecks.\n For purposes of this section the terms "New York instruments" and "New\nYork traveler's checks" shall have the meaning ascribed to them by\nsection six hundred fifty-three of this chapter.\n