Source: https://ecode360.com/8968103
Timestamp: 2019-11-21 00:36:44
Document Index: 353165461

Matched Legal Cases: ['§ 140', '§ 140', '§ 140', '§ 140', '§ 42', '§ 43', '§ 55', '§ 51', '§ 42']

City of Auburn, NY Collateral Loan Brokers
§ 140-2 Grant of license; fee; expiration; bond.
§ 140-3 Action on bond.
§ 140-4 Compliance with state law and regulations required.
§ 140-5 Penalties for state law violations.
Chapter 140 Collateral Loan Brokers
[HISTORY: Adopted by the City Council of the City of Auburn 3-28-1991 by L.L. No. 2-1991 as Ch. 15, Arts. V and IX of the 1991 Code. Amendments noted where applicable.]
Pursuant to Article 5 of the General Business Law of the State of New York, no person shall conduct the business of collateral loan broker in the City of Auburn without a license issued by the City Manager. The title "pawnbroker" shall be used exclusively by a collateral loan broker.
The City Manager may from time to time grant, under his or her hand and the official seal of his or her office, to such citizens, or aliens lawfully admitted for permanent residence in the United States, as he or she shall deem proper and who shall produce to him or her satisfactory evidence of their good character a license authorizing such person to carry on the business of a collateral loan broker, which license shall designate the house in which such person shall carry on said business, and no person, corporation, partnership or firm shall carry on the business of a collateral loan broker without being duly licensed, or in any other house than the one designated in said license, under a penalty of $100 for each day he, she or it shall exercise or carry on said business without such license or at any other house than the one so designated.
Any person receiving such license shall pay therefor the sum of $25 yearly, and every such license shall expire one year from the date thereof and may be renewed on application to the City Manager each and every year on payment of the same sum and upon performance of the other conditions herein contained.
Every person so licensed shall, at the time of receiving such license, file with the City Manager granting the same a bond to the City of Auburn, to be executed by the person so licensed and by two responsible sureties, in the penal sum of $10,000, to be approved by the City Manager, which bond shall be conditioned for the faithful performance of the duties and obligations pertaining to the business so licensed, and the City Manager shall have full power and authority to revoke such license for cause as provided in Chapter 200, Licensing, of this Code.
An action on the bond may be instituted by any person aggrieved pursuant to General Business Law § 42.
A collateral loan broker shall comply with all the provisions of Article 5 of the General Business Law, in particular §§ 43 through 53 of said article, as well as all rules and regulations promulgated by the State Comptroller pursuant to General Business Law § 55.
Pursuant to General Business Law § 51, the City Manager shall have full power and authority after a hearing to impose fines and penalties of not less than $25 nor more than $100 upon persons offending against any of the provisions of said Article 5, §§ 42 through 50, and may also suspend or revoke the license of the collateral loan broker willfully violating any of the aforesaid provisions. The procedures set forth in Chapter 200, Licensing, of this Code shall apply.