New York General Business Law Article 27-A - LICENSING OF COIN PROCESSORS

• 418 - Short Title.
  This article shall be known and may be cited as the "coin processor licensing act".
• 419 - Definitions.
  When used in this article: 1. The term "applicant" means a coin processor who has filed an application with the department for a license. 2....
• 420 - Doing Business Without License Prohibited.
  No coin processor shall operate in the state except as authorized by this article and without first being licensed by the department. All coin processors...
• 421 - Application for Licenses.
  1. Application for a license required under this article shall be in writing, under oath, and in the form prescribed by the secretary, and shall...
• 422 - Conditions Precedent to Licensing.
  Upon filing of an application for a license, if the secretary shall be satisfied of the good character, competency and integrity of the applicant, and...
• 423 - Licensing.
  1. Each license issued under this article shall state the address or addresses at which the business is to be conducted and shall state fully...
• 424 - Grounds for Denial, Suspension or Revocation of License; Procedure.
  1. The secretary shall have the power to suspend or revoke a license or, in lieu thereof, to impose a fine not exceeding one thousand...
• 425 - Insurance.
  1. Every coin processor shall obtain a minimum of ten million dollars all risk insurance coverage and such additional amounts as are sufficient to cover...
• 426 - Violations and Penalties.
  1. Any person, partnership, association or corporation and the several members, principals, officers, directors, agents and employees thereof, who knowingly and willfully makes material misstatements...
• 427 - Preemption.
  1. The provisions of this article shall exclusively govern all coin processors notwithstanding the provisions of any other law to the contrary and further, no...
• 428 - Regulations.
  The secretary is hereby authorized and empowered to make such rules and regulations necessary for the proper conduct of the business authorized under this article,...
• 429 - Separability.
  In the event it is determined by a court of competent jurisdiction that any phrase, clause, part, subdivision, paragraph or section, or any of the...

Last modified: February 3, 2019