NY Banking L § 369 (2021)
2021 New York Laws BNK - Banking Article 9-A - Licensed Cashers of Checks 369 - Conditions Precedent to Issuing License; Issuance and Filing of License; Posting License.

§ 369. Conditions precedent to issuing license; issuance and filing of   license;  posting  license. 1. If the superintendent shall find that the   financial responsibility, experience, character, and general fitness  of   the  applicant,  and  of  the  members  thereof  if  the  applicant be a   co-partnership or association, and of the officers and directors thereof   if the applicant be a corporation, are such as to command the confidence   of the community and  to  warrant  belief  that  the  business  will  be   operated  honestly,  fairly, and efficiently within the purposes of this   article, and if the superintendent shall find that the granting of  such   application  will  promote  the convenience and advantage of the area in   which such business is to be conducted, and if the superintendent  shall   find that the applicant has available for the operation of such business   for  each location and for each mobile unit specified in the application   liquid assets of at least ten thousand dollars, the superintendent shall   thereupon execute a license  in  duplicate  to  permit  the  cashing  of   checks,  drafts  and  money  orders in accordance with the provisions of   this  article  at  the  location  or  in  the  area  specified  in  such   application.  In  finding  whether  the  application  will  promote  the   convenience and  advantage  to  the  public,  the  superintendent  shall   determine  whether  there  is a community need for a new licensee in the   proposed area to be served. No license shall be issued to  an  applicant   for  a  license,  at  a location to be licensed which is closer than one   thousand five hundred eighty-four feet (three-tenths of a mile) from  an   existing  licensee,  except  with  the  written consent of such existing   licensee or pursuant to  subdivision  three  of  section  three  hundred   seventy  of this article, subject to any restriction or condition as the   superintendent may promulgate  by  regulation;  provided,  however,  the   superintendent  may permit a location to be licensed that is closer than   three-tenths of a mile from an existing licensee provided such applicant   engages in the cashing of checks, drafts or money orders only for payees   of such checks, drafts or money  orders  that  are  other  than  natural   persons at the location to be licensed and such applicant was engaged in   the  cashing  of such checks, drafts or money orders for payees that are   other than natural persons at such location on or before the  fourteenth   day of July, two thousand four, and provided further that upon licensing   any  such  location  by  the superintendent, such license as it pertains   solely to such location shall not be affected thereafter by  any  change   of  control  of such license pursuant to section three hundred seventy-a   of this article, provided that  the  licensee  continues  thereafter  to   engage at that location in the cashing of checks, drafts or money orders   only for payees that are other than natural persons and provided further   that  such  license  shall  bear  a legend stating that such location is   restricted to the cashing of checks, drafts or  money  orders  only  for   payees  that  are other than natural persons. The three-tenths of a mile   distance requirement as set forth in this section  shall  not  apply  in   cases where the existing licensee is a restricted location as authorized   in  the  preceding  sentence,  or  is  any  other licensed location that   engages solely in the cashing of checks, drafts or money orders only for   payees that are  other  than  natural  persons.  For  purposes  of  this   section,  such  distance  shall be measured on a straight line along the   street between the nearest point  of  the  store  fronts  of  the  check   cashing  facilities.  The  primary  business  of  the  licensee,  at the   location to be licensed, shall be financial services. The superintendent   shall transmit one copy of  such  license  to  the  applicant  and  file   another  in  the office of the department. Notwithstanding the foregoing   provisions of this subdivision, the superintendent, upon application  by   an  applicant  and for good cause shown, may permit a reduction from ten    thousand dollars to not less  than  five  thousand  dollars  of  minimum   liquid assets required for each location.2.  Such  license  shall  state  the  name of the licensee; and if the   licensee is a co-partnership or association, the names  of  the  members   thereof;  and  if  the  licensee  is  a  corporation,  the  date  of its   incorporation; and if the business is to  be  conducted  at  a  specific   address,  the  address at which such business is to be conducted; and if   the business is to be conducted through the use of a  mobile  unit,  the   New  York  state  registration  number  or  other identification of such   mobile unit and the area in which such mobile unit is authorized  to  do   business.3.  Such  license  shall  be kept conspicuously posted in the place of   business of the licensee or, in the case of a  mobile  unit,  upon  such   mobile unit. Such license shall not be transferable or assignable.4.  Such  license  shall  remain  in full force and effect until it is   surrendered by the licensee or revoked or suspended as provided in  this   article.5.  If  the superintendent shall find that the applicant fails to meet   any of the conditions set forth in subdivision one of this  section,  he   shall  not  issue such license, and he shall notify the applicant of the   denial.  If an application is denied or  withdrawn,  the  superintendent   shall  retain  the investigation fee to cover the costs of investigating   the application and return the license fee to the applicant.6. The superintendent may, consistent with article  twenty-three-A  of   the  correction  law, refuse to issue a license pursuant to this article   if he shall find that the applicant, or any person who  is  a  director,   officer,  partner,  agent,  employee  or  substantial stockholder of the   applicant, (a) has been convicted of a crime in any jurisdiction or  (b)   is  associating  or  consorting  with any person who has, or persons who   have, been convicted of  a  crime  or  crimes  in  any  jurisdiction  or   jurisdictions.  For  the  purposes  of  this  article, a person shall be   deemed to have been convicted of a  crime  if  such  person  shall  have   pleaded  guilty  to  a  charge  thereof before a court or magistrate, or   shall have been found guilty thereof by the decision or  judgment  of  a   court  or  magistrate  or  by the verdict of a jury, irrespective of the   pronouncement  of  sentence  or  the  suspension   thereof.   The   term   "substantial  stockholder," as used in this subdivision, shall be deemed   to refer to a person owning or controlling ten per centum or more of the   total outstanding stock of the corporation in which  such  person  is  a   stockholder. In making a determination pursuant to this subdivision, the   superintendent  shall  require  fingerprinting  of  the  applicant. Such   fingerprints shall be submitted to  the  division  of  criminal  justice   services  for  a  state  criminal  history  record  check, as defined in   subdivision one of section three thousand thirty-five of  the  education   law,  and  may be submitted to the federal bureau of investigation for a   national criminal history record check.7. No license  pursuant  to  this  article  shall  be  issued  to  any   applicant  to  do  business at the place specified in the application as   the place where the business is to be conducted if,  within  the  twelve   months  preceding  such  application,  a  license  to engage in business   pursuant to this article at such place shall have been revoked.