N.Y. General Business Law 359-EE – Report of existence
§ 359-ee. Report of existence. 1. Every person, partnership, corporation, company, trust or association which caused to be filed in the department of law a "dealer's statement" on or before June thirtieth, nineteen hundred fifty-three, shall on or before February first, nineteen hundred fifty-nine, file in the department of law a certificate which shall be entitled and endorsed, "Certificate of Report of Existence of……………………….(state name of dealer), pursuant to section three hundred fifty-nine-ee, of the general business law" and shall state: (a) The name of the dealer, and if it was changed, the name under which last registered. (b) The date of the last filing of the dealer's statement in the department of law. (c) That its existence is hereby continued. Such certificate shall be signed and certified by the dealer or any principal officer thereof.
Terms Used In N.Y. General Business Law 359-EE
- broker: shall mean and include any person, firm, association or corporation, other than a dealer, engaged in the business of effecting transactions in securities for the account of others within or from this state, but does not include a bank unless such bank is considered a broker under the federal securities exchange act of 1934. See N.Y. General Business Law 359-E
- 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.
- dealer: shall mean and include any person, firm, association or corporation engaged in the business of buying and selling securities from or to the public within or from this state for his or its own account, through a broker or otherwise, except a bank unless such bank is considered a dealer under the federal securities exchange act of 1934, but does not include any person, firm, association or corporation in so far as he or it buys or sells securities for his or its bona fide investment account, either individually or in some fiduciary capacity. See N.Y. General Business Law 359-E
- 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.
- principal: shall mean and include every person or firm directly or indirectly controlling any broker or dealer. See N.Y. General Business Law 359-E
2. On or before January first, nineteen hundred fifty-nine, notice of the enactment of this section shall be given by the attorney-general to each dealer to which this section applies by mailing a copy of such notice to said dealer directed to said dealer at the address stated in the "dealer's statement" filed by said dealer in the department of law and then on file there. A copy of this section shall be endorsed or annexed to each such notice.
3. On March fifteenth, nineteen hundred fifty-nine, the attorney-general shall make a list containing the names of all such dealers, who have not filed the certificate of report of existence required by subdivision one of this section.
4. The attorney-general shall make a proclamation under his hand and seal of office as to the dealers whose names are included in such list, declaring the "dealers' statements" theretofore filed by such dealers as void pursuant to the provisions of this section. He shall file the original proclamation in his office and shall publish a copy thereof in the April or May issue of the state bulletin in the year nineteen hundred fifty-nine.
5. Upon the publication of such proclamation in the manner aforesaid, the "dealer's statement" of each dealer named therein shall be deemed void as of May thirty-first, nineteen hundred fifty-nine, without further proceedings, except as otherwise provided in subdivision six of this section.
6. After this section takes effect, no dealer whose statement has been voided by subdivision five of this section shall sell or offer for sale to the public within this state, as principal, broker or agent, or otherwise, any securities issued or to be issued, unless and until such dealer shall have caused to be filed in the department of law a new "dealer's statement" as required by section three hundred fifty-nine-e of this article.
7. After this section takes effect, no dealer whose statement has been voided by subdivision five of this section shall sell or offer for sale to the public within this state, as principal, broker or agent, or otherwise, any securities issued or to be issued, unless and until such dealer shall have caused to be filed in the department of state a new "state notice" as required by section three hundred fifty-nine-e of this article, and, as to any securities which are not exempted from the provisions of subdivision eight of section three hundred fifty-nine-e of this article by section three hundred fifty-nine-f hereof, until and unless such dealer shall have caused to be filed in the department of state a further "state notice" as required by such section three hundred fifty-nine-e.
8. The fee of the attorney-general for filing a certificate under subdivisions one or six of this section shall be five dollars, and the fee of the department of state for filing any notice under subdivision seven of this section shall be two dollars.