2016 New York Laws
GBS - General Business
Article 5 - (General Business) COLLATERAL LOAN BROKERS
52 - Term "collateral loan broker", how to be construed.

NY Gen Bus L § 52 (2016) What's This?

52. Term "collateral loan broker", how to be construed. The term "collateral loan broker" contained in this article shall be construed so as to include any person, partnership, or corporation: (1) loaning money on deposit or pledge of personal property, other than securities or printed evidences of indebtedness; or (2) dealing in the purchasing of personal property on condition of selling back at a stipulated price; or (3) designated or doing business as furniture storage warehousemen, and loaning and advancing money upon goods, wares or merchandise pledged or deposited as collateral security.


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