State Codes and Statutes

Statutes > New-york > Bnk > Article-13-b > 648

§ 648.  Agents.  A  licensee  may  conduct its business at one or more  locations within this state, as follows:    (a) The business may be conducted through or by means of agents as the  licensee may from time to time designate or appoint and,  in  no  event,  shall  the  business  of  money  transmission  be  conducted  through  a  subagent.    (b) No license under this article shall be required of any agent of  a  licensee  in cases in which such agent is acting on behalf of a licensee  under, and in accordance with, an agency contract except as provided  in  subdivision (c) of this section.    (c)  An  agent,  other  than  a  person  expressly  excepted  from the  application of this article, who sells or delivers the licensee's checks  over-the-counter to the public shall not be exempt from licensing  under  this  article  if  such  agent  in the ordinary conduct of such business  receives or at any time has access to (1) the licensee's  checks  which,  having been paid, are returned through banking channels or otherwise for  verification or for reconciliation or accounting with respect thereto or  (2)  bank  statements  relating  to checks so returned. No license under  this article shall be required of  an  agent,  including  a  general  or  managing  agent, of a licensee who does not directly sell or deliver the  licensee's checks over-the-counter to the public.

State Codes and Statutes

Statutes > New-york > Bnk > Article-13-b > 648

§ 648.  Agents.  A  licensee  may  conduct its business at one or more  locations within this state, as follows:    (a) The business may be conducted through or by means of agents as the  licensee may from time to time designate or appoint and,  in  no  event,  shall  the  business  of  money  transmission  be  conducted  through  a  subagent.    (b) No license under this article shall be required of any agent of  a  licensee  in cases in which such agent is acting on behalf of a licensee  under, and in accordance with, an agency contract except as provided  in  subdivision (c) of this section.    (c)  An  agent,  other  than  a  person  expressly  excepted  from the  application of this article, who sells or delivers the licensee's checks  over-the-counter to the public shall not be exempt from licensing  under  this  article  if  such  agent  in the ordinary conduct of such business  receives or at any time has access to (1) the licensee's  checks  which,  having been paid, are returned through banking channels or otherwise for  verification or for reconciliation or accounting with respect thereto or  (2)  bank  statements  relating  to checks so returned. No license under  this article shall be required of  an  agent,  including  a  general  or  managing  agent, of a licensee who does not directly sell or deliver the  licensee's checks over-the-counter to the public.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Bnk > Article-13-b > 648

§ 648.  Agents.  A  licensee  may  conduct its business at one or more  locations within this state, as follows:    (a) The business may be conducted through or by means of agents as the  licensee may from time to time designate or appoint and,  in  no  event,  shall  the  business  of  money  transmission  be  conducted  through  a  subagent.    (b) No license under this article shall be required of any agent of  a  licensee  in cases in which such agent is acting on behalf of a licensee  under, and in accordance with, an agency contract except as provided  in  subdivision (c) of this section.    (c)  An  agent,  other  than  a  person  expressly  excepted  from the  application of this article, who sells or delivers the licensee's checks  over-the-counter to the public shall not be exempt from licensing  under  this  article  if  such  agent  in the ordinary conduct of such business  receives or at any time has access to (1) the licensee's  checks  which,  having been paid, are returned through banking channels or otherwise for  verification or for reconciliation or accounting with respect thereto or  (2)  bank  statements  relating  to checks so returned. No license under  this article shall be required of  an  agent,  including  a  general  or  managing  agent, of a licensee who does not directly sell or deliver the  licensee's checks over-the-counter to the public.

Categories