N.Y. General Business Law 89-FFF – Licensing
§ 89-fff. 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 or organization, as applicable, 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 89-FFF
- Armored car carrier: means any individual, partnership, association, limited liability company, corporation, or any other entity, engaging in the business of providing armored car services for hire. See N.Y. General Business Law 89-BBB
- Armored car services: means engaging in the business of providing secured transportation, protection and safeguarding of valuable cargo from one place or point to another, including the provision of cash services for automated teller machines, by means of specially designed and constructed bullet-resistant armored vehicles and armored car guards. See N.Y. General Business Law 89-BBB
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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 89-BBB
- Licensee: means an armored car carrier that has been issued a license in accordance with the provisions of this article. See N.Y. General Business Law 89-BBB
- Officer: means the four primary officers of a corporation, normally defined as president, vice-president, secretary and treasurer. See N.Y. General Business Law 89-BBB
- 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: means any person controlling an interest greater than ten percent of an armored car carrier. See N.Y. General Business Law 89-BBB
- Secretary: means the secretary of state. See N.Y. General Business Law 89-BBB
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 changes 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, and the appropriate fee, for each such principal or officer in accordance with the provisions of paragraph e of subdivision one of section eighty-nine-ddd of this article.
4. Prior to the sale or transfer of all or the majority of the stock or assets of any armored car carrier, the new principals or officers of the purchaser or transferee shall apply for a new license with the department in accordance with the provisions of sections eighty-nine-ddd and eighty-nine-eee of this article. Such application shall be made at least sixty days prior to such sale or transfer. If the purchaser or transferee is an existing licensee under this article, then such licensee need not reapply for licensure hereunder, but shall notify the department in writing of such purchase or transfer at least sixty days prior thereto.
5. A license granted under the provisions of this article may be renewed by the department upon the application therefor by the licensee, in such form as the department may prescribe, accompanied by the nonrefundable renewal processing fee pursuant to subdivision two of section eighty-nine-ddd of this article. In no event shall renewal be granted more than six months after the date of expiration of a license. No individual, partnership, association, limited liability company, corporation, or any other entity shall engage in the business of providing armored car services subject to this article during any period which may exist between the date of expiration of a license and the renewal thereof.