40 – Licenses.

§  40.  Licenses.  No  person,  corporation, partnership or firm shall
  hereafter carry on the  business  of  collateral  loan  broker,  without
  having  first obtained from the mayor of the city or licensing authority
  of the local governing body where the business is to  be  carried  on  a
  license  authorizing  such person to carry on the same in the manner and
  upon the conditions stated in the succeeding sections of  this  article.
  In  the  city of New York such license may be issued by the commissioner
  of consumer affairs. Nothing herein shall be  construed  to  prohibit  a
  collateral loan broker from employing the title pawnbroker in connection
  with  the  collateral  loan business. The title pawnbroker shall be used
  exclusively by a collateral loan broker.