2023 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.