2016 New York Laws
GOB - General Obligations
Article 5 - CREATION, DEFINITION AND ENFORCEMENT OF CONTRACTUAL OBLIGATIONS
Title 5 - (5-501 - 5-531) INTEREST AND USURY; BROKERAGE ON LOANS
5-523 - Interest permitted on advances on collateral security.

 5-523. Interest  permitted  on  advances on collateral security.  In
  any case in which advances of money, repayable on demand, to  an  amount
  not  less  than  five thousand dollars, are made upon documents of title
  within article seven  of  the  uniform  commercial  code  or  negotiable
  instruments  within  article  three  or  article  eight  of  the uniform
  commercial code pledged as collateral security for  such  repayment,  it
  shall  be  lawful  to  receive or to contract to receive and collect, as
  compensation for making such advances, any sum  to  be  agreed  upon  in
  writing,  by  the parties to such transaction, provided that there shall
  not be received or contracted to  be  received  and  collected  on  such
  advances any amount which would be in violation of section 190.40 of the
  penal law.