N.Y. Banking Law 366 – Definitions
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§ 366. Definitions. When used in this article. 1. The term "licensed casher of checks" means any individual, partnership, unincorporated association or corporation duly licensed by the superintendent of financial services to engage in business pursuant to the provisions of this article.
Terms Used In N.Y. Banking Law 366
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- licensed casher of checks: means any individual, partnership, unincorporated association or corporation duly licensed by the superintendent of financial services to engage in business pursuant to the provisions of this article. See N.Y. Banking Law 366
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
2. The term "licensee" means a licensed casher of checks, drafts and/or money orders.
3. The term "mobile unit" means any vehicle or other movable means from which the business of cashing checks, drafts or money orders is to be conducted.