Any individual or partnership desiring to engage in business as a private banker shall submit to the superintendent a verified certificate in duplicate which shall state:

Terms Used In N.Y. Banking Law 160

  • 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.

1. The full name, residence and post office address of such individual or of each member of such partnership.

2. The state or country of which each individual named in such certificate is a citizen.

3. The amount of permanent capital such individual or partnership will invest in his business as a private banker which shall be not less than one million dollars.

4. The place where his office is to be located.