2023 New York Laws › GBS - General Business › Article 23-A - Fraudulent Practices in Respect to Stocks, Bonds and Other Securities › 352-B - Non-Resident Brokers, Dealers, Salesmen and Investment Advisors; Designation of Secretary of State as Agent for Service of Process; Service of Process

§  352-b.  Non-resident  brokers,  dealers,  salesmen  and  investment
  advisors; designation of secretary of state  as  agent  for  service  of
  process;  service  of  process. 1. Any person, partnership, corporation,
  company, trust or association resident or having his  or  its  principal
  place  of business without the state or organized under and by virtue of
  the laws of a foreign state, who or which  shall  do  business  in  this
  state as a broker, dealer, salesman or investment advisor, as defined in
  section  three  hundred  fifty-nine-e or three hundred fifty-nine-eee of
  this article, or any partner, principal, officer  or  director  of  such
  broker, dealer or investment advisor shall be deemed to have irrevocably
  appointed  the  secretary  of state as his or its agent upon whom may be
  served any summons, complaint, subpoena, subpoena duces  tecum,  notice,
  order,  judgment  or other process directed to such person, partnership,
  corporation, company, trust or association, or any  partner,  principal,
  officer  or director thereof, in any action, investigation or proceeding
  brought or conducted by the attorney general  under  the  provisions  of
  this  article  arising  out  of  or  in connection with any transaction,
  matter or thing  relating  to  the  practices,  affairs,  management  or
  business  of  such  person,  partnership, corporation, company, trust or
  association, or any partner, principal, officer or director thereof. Any
  such person, partnership, corporation, company, trust or association, or
  any partner, principal, officer or director thereof, may file  with  the
  secretary  of  state  a  designation,  in terms complying herewith, duly
  acknowledged, irrevocably appointing the secretary of state  as  his  or
  its  agent  upon whom may be served any such process; provided, however,
  that a designation filed with the secretary of state pursuant to section
  three hundred fifty-two-a of this article or  section  thirteen  hundred
  four   of  the  business  corporation  law  shall  serve  also  as  such
  designation.
2. Service of such process upon the secretary of state shall  be  made
  by  personally  delivering to and leaving with him or a deputy secretary
  of state a copy thereof at the office of the department of state in  the
  city  of  Albany,  and such service shall be sufficient service provided
  that notice of such service and a copy of  such  process  are  forthwith
  sent  by  the attorney general to such person, partnership, corporation,
  company, trust or association, by  registered  or  certified  mail  with
  return  receipt  requested,  at  his  or  its office as set forth in the
  "broker-dealer's  statement",  "salesman's  statement"  or   "investment
  advisor's  statement" filed in the department of law pursuant to section
  three hundred fifty-nine-e or section three  hundred  fifty-nine-eee  of
  this article, or in default of the filing of such statement, at the last
  address  known to the attorney general. Service of such process shall be
  complete on  receipt  by  the  attorney  general  of  a  return  receipt
  purporting  to  be  signed  by  the  addressee  or a person qualified to
  receive his or its registered or certified mail, in accordance with  the
  rules  and  customs of the post office department, or, if acceptance was
  refused by the addressee or his or its agent, on return to the  attorney
  general  of  the  original  envelope  bearing  a  notation by the postal
  authorities that receipt thereof was refused.
3. The department of state shall keep a record of each process  served
  upon  the  secretary  of state under this chapter, including the date of
  service. It shall, upon request made within ten years of  such  service,
  issue  a  certificate under its seal certifying as to the receipt of the
  process by an authorized person, the date and place of such service  and
  the  receipt  of the statutory fee. Process served upon the secretary of
  state under this chapter shall be destroyed by him after a period of ten
  years from such service.