2006 New York Code - License Requirements; Fees; Capital Requirements.

 
    § 367. License requirements; fees; capital requirements. 1. No person,
  partnership,  association or corporation shall engage in the business of
  cashing checks, drafts or money orders for a consideration without first
  obtaining a license from the superintendent.
    2. Application for such license shall be in writing, under  oath,  and
  in  the  form  prescribed  by  the superintendent, and shall contain the
  name, and the address both of the residence and place  of  business,  of
  the  applicant, and if the applicant is a co-partnership or association,
  of every member thereof, and if  a  corporation,  of  each  officer  and
  director thereof; also, if the business is to be conducted at a specific
  address,  the  address  at which the business is to be conducted, and if
  the business is to be conducted from a mobile unit, the New  York  state
  registration  number or other identification of such mobile unit and the
  area in which the applicant proposes to operate such  mobile  unit;  and
  also such further information as the superintendent may require.
    3.  Such applicant at the time of making such application shall pay to
  the superintendent the sum of two hundred fifty dollars  as  a  fee  for
  investigating  the  application  and the additional sum of three hundred
  fifty dollars as a license fee for a period terminating on the last  day
  of the current calendar year except that in the event the business is to
  be  conducted  from  a  mobile  unit,  the  fee  for  investigating  the
  application shall be two hundred fifty  dollars,  and  the  license  fee
  shall  be  four  hundred  dollars;  provided, that if the application is
  filed after June thirtieth in any year such payment shall be one-half of
  the stated license fee in addition to the said  fee  for  investigation.
  Every  licensee  shall, on or before the fifteenth day of December, each
  year, pay to the superintendent of banks an annual license fee of  three
  hundred  fifty  dollars,  or  if the business is conducted from a mobile
  unit four hundred dollars, for the next succeeding  calendar  year.  Any
  licensee  requesting  a  change  of address, shall at the time of making
  such request, pay to the superintendent the sum of one  hundred  dollars
  as  a fee for investigating the new address; provided, however, that the
  superintendent may, in his discretion, waive such investigation  fee  if
  warranted.
    4.   Every   applicant  shall  prove,  in  form  satisfactory  to  the
  superintendent that he or it has available for  the  operation  of  such
  business,  for  each  location and for each mobile unit specified in the
  application, liquid assets of at least ten thousand dollars,  and  every
  licensee  shall continuously maintain for the operation of such business
  for each location and for each mobile unit liquid assets of at least ten
  thousand dollars.  Notwithstanding  the  foregoing  provisions  of  this
  subdivision,  the  superintendent,  upon application by an applicant and
  for good cause shown, may permit a reduction from ten  thousand  dollars
  to not less than five thousand dollars of minimum liquid assets required
  for each location.