N.Y. GBS Law § 352-B — New York Code / Act GBS / Article 23-A / Section 352-B
Non-resident brokers, dealers, salesmen and investment advisors; designation of secretary of state as agent for service of process; servi...
Status: in_force

§ 352-b. Non-resident brokers, dealers, salesmen and investment\nadvisors; designation of secretary of state as agent for service of\nprocess; service of process. 1. Any person, partnership, corporation,\ncompany, trust or association resident or having his or its principal\nplace of business without the state or organized under and by virtue of\nthe laws of a foreign state, who or which shall do business in this\nstate as a broker, dealer, salesman or investment advisor, as defined in\nsection three hundred fifty-nine-e or three hundred fifty-nine-eee of\nthis article, or any partner, principal, officer or director of such\nbroker, dealer or investment advisor shall be deemed to have irrevocably\nappointed the secretary of state as his or its agent upon whom may be\nserved any summons, complaint, subpoena, subpoena duces tecum, notice,\norder, judgment or other process directed to such person, partnership,\ncorporation, company, trust or association, or any partner, principal,\nofficer or director thereof, in any action, investigation or proceeding\nbrought or conducted by the attorney general under the provisions of\nthis article arising out of or in connection with any transaction,\nmatter or thing relating to the practices, affairs, management or\nbusiness of such person, partnership, corporation, company, trust or\nassociation, or any partner, principal, officer or director thereof. Any\nsuch person, partnership, corporation, company, trust or association, or\nany partner, principal, officer or director thereof, may file with the\nsecretary of state a designation, in terms complying herewith, duly\nacknowledged, irrevocably appointing the secretary of state as his or\nits agent upon whom may be served any such process; provided, however,\nthat a designation filed with the secretary of state pursuant to section\nthree hundred fifty-two-a of this article or section thirteen hundred\nfour of the business corporation law shall serve also as such\ndesignation.\n  2. Service of such process upon the secretary of state shall be made\nby personally delivering to and leaving with him or a deputy secretary\nof state a copy thereof at the office of the department of state in the\ncity of Albany, and such service shall be sufficient service provided\nthat notice of such service and a copy of such process are forthwith\nsent by the attorney general to such person, partnership, corporation,\ncompany, trust or association, by registered or certified mail with\nreturn receipt requested, at his or its office as set forth in the\n"broker-dealer's statement", "salesman's statement" or "investment\nadvisor's statement" filed in the department of law pursuant to section\nthree hundred fifty-nine-e or section three hundred fifty-nine-eee of\nthis article, or in default of the filing of such statement, at the last\naddress known to the attorney general. Service of such process shall be\ncomplete on receipt by the attorney general of a return receipt\npurporting to be signed by the addressee or a person qualified to\nreceive his or its registered or certified mail, in accordance with the\nrules and customs of the post office department, or, if acceptance was\nrefused by the addressee or his or its agent, on return to the attorney\ngeneral of the original envelope bearing a notation by the postal\nauthorities that receipt thereof was refused.\n  3. The department of state shall keep a record of each process served\nupon the secretary of state under this chapter, including the date of\nservice. It shall, upon request made within ten years of such service,\nissue a certificate under its seal certifying as to the receipt of the\nprocess by an authorized person, the date and place of such service and\nthe receipt of the statutory fee. Process served upon the secretary of\nstate under this chapter shall be destroyed by him after a period of ten\nyears from such service.\n