NY Banking L § 373 (2021)
2021 New York Laws BNK - Banking Article 9-A - Licensed Cashers of Checks 373 - Acts Prohibited; Suspension or Revocation of License; Penalties.

§ 373.   Acts   prohibited;   suspension  or  revocation  of  license;   penalties.  1. No licensee shall engage in the business of making  loans   of  money,  credit,  goods  or  things or discounting of notes, bills of   exchange, checks, or other evidences of debt pursuant to the  provisions   of  article  nine  of  this  chapter,  nor  shall a loan business or the   negotiation of loans or the discounting of  notes,  bills  of  exchange,   checks  or  other  evidences  of  debt be conducted on the same premises   where the licensee is conducting business pursuant to the provisions  of   this  article.    Except  as  otherwise  provided  by  regulation of the   superintendent, all checks, drafts and money orders shall  be  deposited   in  the  licensee's  bank  account not later than the first business day   following the day on which they were cashed. No licensee  shall  at  any   time cash or advance any moneys on a post-dated check or draft or engage   in   the   business   of  transmitting  money  or  receiving  money  for   transmission; provided, however,  that  a  licensee  may  cash  a  check   payable  on the first banking business day following the date of cashing   (a) if such check is drawn by the United States, the state of New  York,   or  any  political  subdivision  of  the  state  of  New York, or by any   department,  bureau,  agency,  authority,  instrumentality  or  officer,   acting in his official capacity, of the United States or of the state of   New  York  or  of any political subdivision of the state of New York, or   (b) if such check is a payroll check drawn by an employer to  the  order   of  its  employee in payment for services performed by such employee. No   licensee shall cash any check, draft or money order if the  face  amount   for  which  it  is  drawn  is  in  excess  of  fifteen thousand dollars;   provided, however, that this restriction shall not apply to the  cashing   of  checks, drafts or money orders drawn by the United States, any state   thereof or any political subdivision  of  any  such  state,  or  by  any   department,  bureau,  agency,  authority,  instrumentality  or  officer,   acting in his official capacity, of the United States, any state thereof   or  any  political  subdivision  of  any  such  state,  or  any  banking   institution,  or  to  any check or draft drawn by any insurance company,   any broker  or  dealer  registered  with  the  securities  and  exchange   commission,  or  any  attorney  for  the settlement of claims, or to any   check which has been certified by the banking institution  on  which  it   has  been  drawn;  provided  further, however, that any such restriction   upon the maximum face amount that may be cashed by a licensee shall  not   apply  to the cashing of checks, drafts or money orders by licensees for   payees of such checks, drafts  or  money  orders  that  are  other  than   natural persons. For purposes of this subdivision, "banking institution"   means   any   bank,  trust  company,  savings  bank,  savings  and  loan   association  or  credit  union  which  is  incorporated,  chartered   or   organized  under the laws of this state or any other state or the United   States.2. The superintendent may suspend or revoke any  license  or  licenses   issued pursuant to this article if, after notice and a hearing, he shall   find  that  the  licensee  (a)  has  committed any fraud, engaged in any   dishonest activities or made any misrepresentation; or (b) has  violated   any  provisions  of  the  banking  law or any regulation issued pursuant   thereto, or has violated any other law in  the  course  of  its  or  his   dealings  as  a  licensed  casher  of  checks;  or  (c) has made a false   statement in the application for such license or failed to give  a  true   reply  to a question in such application; or (d) has demonstrated his or   its incompetency or untrustworthiness to act as  a  licensed  casher  of   checks; or (e) is not doing sufficient business pursuant to this article   to  justify the continuance of the license, or if he shall find that any   ground or grounds exist which would require or warrant the refusal of an   application for the issuance of the license if such an application  were    then  before  him.  Such  a hearing shall be held in the manner and upon   such notice as may be  prescribed  by  the  superintendent.  Pending  an   investigation  or  a  hearing  for  the  suspension or revocation of any   license  or licenses issued pursuant to this article, the superintendent   may temporarily suspend such license or licenses for  a  period  not  to   exceed  ninety  days, provided the superintendent shall find that such a   temporary suspension is in the public interest.3. Whenever the superintendent  shall  suspend  or  revoke  a  license   issued  pursuant  to  this article, he shall forthwith execute a written   order to that effect. The superintendent shall on the date such order is   executed file one copy thereof in the office of the department and serve   a second copy thereof on the licensee either personally  or  by  mailing   the same to the last known address of such licensee. Such order shall be   subject to review by the supreme court in the manner provided in article   seventy-eight  of  the  civil practice law and rules; provided, however,   that a special proceeding for review of such  order  must  be  commenced   within  thirty  days  from  the  date  of  such  order  of suspension or   revocation and, provided further, that no stay shall be granted  pending   the  determination  of the matter except on notice to the superintendent   and for a period not exceeding thirty days.4. Any person, partnership, association or corporation and the several   members, officers, directors, agents and employees  thereof,  who  shall   violate  any  of  the  provisions  of this article, shall be guilty of a   misdemeanor, and shall be punishable by imprisonment for not  more  than   one  year or by a fine of not more than five hundred dollars, or by both   such fine and imprisonment.5. Notwithstanding the provisions of subdivision four of this section,   any person, partnership, association  or  corporation  and  the  several   members,  officers,  directors,  agents  and employees thereof who shall   violate the provisions of  subdivision  one  of  section  three  hundred   sixty-seven of this article shall be guilty of a class A misdemeanor.