360 – Short Title.
§ 360. Short title. This article shall be known and may be cited as the New York licensed lender law.
361 – Severability.
§ 361. Severability. If any provision of this article or the application thereof to any person or circumstances is held to be invalid, such invalidity shall not affect other provisions or applications of this article which can be given effect without the invalid provision or application, and to this end the provisions of this article […]
350 – Restrictions Concerning Advertising, Liens on Real Estate, and Places Where Loans Made.
§ 350. Restrictions concerning advertising, liens on real estate, and places where loans made. 1. (a) No licensee or other entity shall advertise, print, display, publish, distribute, or broadcast or cause or permit to be advertised, printed, displayed, published, distributed, or broadcasted, in any manner whatsoever any statement or representation with regard to the rates, […]
351 – Restrictions on Loans Subject to the Provisions of This Article; Interest; Other Charges.
§ 351. Restrictions on loans subject to the provisions of this article; interest; other charges. 1. Every licensee hereunder may loan any sum of money not exceeding the maximum principal amounts prescribed in section three hundred forty of this article, and may charge, contract for, and receive thereon interest at the rate or rates agreed […]
352 – Acts Required of Licensees; Acts Prohibited.
§ 352. Acts required of licensees; acts prohibited. Every licensee shall: Deliver to the borrower at the time any loan is made or prior to the first advance under an open-end loan agreement a statement, in the English language showing in clear and distinct terms the name and address of the borrower and of the […]
353 – Limitation on Licensee’s Charges on Certain Loans.
§ 353. Limitation on licensee’s charges on certain loans. No licensee shall directly or indirectly charge, contract for, or receive any interest, discount, or consideration upon the loan, use, or forbearance of money, goods, or things in action, or upon the loan, use, or sale of credit, of the amount or value of more than […]
354 – Restrictions on Assignments of Compensation for Services.
§ 354. Restrictions on assignments of compensation for services. 1. A licensee shall not take an assignment of unearned wages or other earnings unless: (a) the assignment by its terms is revocable at the will of the borrower; or (b) the assignment is a payroll deduction plan. 2. No assignment of wages or other earnings […]
355 – Solicitation of Loans.
§ 355. Solicitation of loans. 1. Any loan made by a person not licensed under this article to a resident of this state, in the amount, not exceeding the maximum amounts prescribed in section three hundred forty of this article, where solicitation of the loan was made within this state, and where the interest, discount, […]
356 – Restrictions on Certain Loans by Non-Licensees, Interests, Other Charges; Loans Made Outside This State.
§ 356. Restrictions on certain loans by non-licensees, interests, other charges; loans made outside this state. No person or other entity, other than a licensee under this article, shall directly or indirectly charge, contract for, or receive any interest, discount, or consideration greater than the person or other entity would be permitted by law to […]
357 – Insurance.
§ 357. Insurance. 1. The licensee may require a borrower, on loans of two hundred and fifty dollars or more, excluding insurance premiums and precomputed interest, to insure tangible personal property, except household goods, taken as security for a loan against any substantial risk of loss, damage or destruction for an amount not to exceed […]