US Lawyer Database

For Lawyer-Seekers

YOU DESERVE THE BEST LAWYER

Home » US Law » 2022 New York Laws » Consolidated Laws » GBS - General Business » Article 5 - Collateral Loan Brokers » 52 – Term “Collateral Loan Broker”, How to Be Construed.

§ 52. Term "collateral loan broker", how to be construed. The term "collateral loan broker" contained in this article shall be construed so as to include any person, partnership, or corporation: (1) loaning money on deposit or pledge of personal property, other than securities or printed evidences of indebtedness; or (2) dealing in the purchasing of personal property on condition of selling back at a stipulated price; or (3) designated or doing business as furniture storage warehousemen, and loaning and advancing money upon goods, wares or merchandise pledged or deposited as collateral security.