N.Y. General Business Law 423 – Licensing
§ 423. Licensing. 1. Each license issued under this article shall state the address or addresses at which the business is to be conducted and shall state fully the name of the licensee, and the date and place of its incorporation and the expiration date of the license. A copy of such license shall be prominently posted in each place of business of the licensee. Such license shall not be transferable or assignable.
Terms Used In N.Y. General Business Law 423
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- coin processor: means any individual, partnership, association or corporation engaged in the business of providing coin processing services. See N.Y. General Business Law 419
- 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.
- department: means the department of state. See N.Y. General Business Law 419
- licensee: means a coin processor that has been issued a license in accordance with the provisions of this article. See N.Y. General Business Law 419
- 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.
- secretary: means the secretary of state. See N.Y. General Business Law 419
2. In the event the location at which the business is to be conducted shall be changed, the licensee shall forthwith notify the secretary in writing, who shall thereupon without charge attach to the license a rider setting forth such changed location.
3. In the event that there shall be any change among the principals or officers of any licensee, the licensee shall forthwith notify the secretary in writing, of the name and address of each new principal or officer, and shall submit a complete set of two fingerprint cards for each such principal or officer in accordance with the provisions of paragraph e of subdivision one of section four hundred twenty-one of this article.
4. Prior to or upon the sale or transfer of all or the majority of the stock or assets of any coin processor, the new principals or officers shall apply for a new license with the department in accordance with the provisions of section four hundred twenty-one and section four hundred twenty-two of this article. Such application shall be made within sixty days of such sale or transfer.
5. A license granted under the provisions of this article may be renewed by the department upon application therefor by the licensee, in such form as the department may prescribe, accompanied by the non-refundable renewal processing fee pursuant to subdivision two of section four hundred twenty-one of this article. In no event will renewal be granted more than six months after the date of expiration of a license. No person, firm, company, partnership or corporation shall carry on any business subject to this article during any period which may exist between the date of expiration of a license and the renewal thereof.