§ 446-B — License required

§ 446-b. License required. 1. It is unlawful for any person to act or\nengage in the business as an apartment information vendor in this state\nwithout first having obtained a license from the secretary of state. No\nperson shall be granted a license until he has established that he is\ntrustworthy and bears a reputation for good and fair dealing.\n 2. The application for such license shall be filed in the office of\nthe secretary of state on such forms as the secretary may prescribe.\n 3. When the apartment information vendor maintains more than one place\nof business, he shall apply for a supplemental license for each branch\noffice so maintained. Supplemental licenses shall be conspicuously\ndisplayed in each branch office. The display of an expired license by\nany person, firm, partnership or corporation is a violation of the\nprovisions of this article.\n 4. From and after the date when this subdivision shall take effect,\nthe term for which a license shall be issued or reissued under this\narticle shall be a period of one year beginning the first day of\nNovember in any year and ending the thirty-first day of October one year\nlater. A license which takes effect on a day other than the first day of\nNovember in any year shall extend for a term expiring on the\nthirty-first day of October following the date on which the license\ntakes effect.\n 5. Any license granted under the provisions hereof may be renewed for\none year by the secretary upon application therefor by the holder, in\nsuch form as the secretary may prescribe. The secretary may dispense\nwith the requirement for the filing of such statements as was contained\nin the original application for license.\n 6. Every applicant for a license under the provisions of this section,\nshall establish and maintain a special interest bearing trust account in\nthe minimum amount of five thousand dollars in a branch of a national or\nstate chartered banking institution having a place of business within\nthe state, plus twenty-five hundred dollars for each additional licensed\noffice, except that any applicant whose business is limited exclusively\nto acting as an apartment sharing agent shall be required to establish\nand maintain an account of only twenty-five hundred dollars plus twelve\nhundred fifty dollars for each additional licensed office. No license\nshall be issued unless a copy of a certificate of deposit showing the\nminimum balance in said special interest bearing trust account has been\nfiled with the secretary simultaneously with the filing of the license\napplication. Moneys may be withdrawn, from such account only upon the\ncertification of the secretary.\n 7. No license shall be granted to a person under the age of eighteen\nor a corporation, limited liability company, partnership or association\nwhose principal shareholder, member or partner is under such age.\n