§ 570. Definitions as used in this article. 1. “Trading stamp” means any stamp or similar device issued in connection with the retail sale of merchandise or service, as a cash discount or for any other marketing purpose, which entitles the rightful holder, on its due presentation for redemption, to receive merchandise, service or cash. […]
§ 571. Declared face value; cash redemption. No trading stamp company shall advertise, distribute or redeem trading stamps hereafter issued in this state unless: 1. Each stamp has legibly printed upon its face a cash value determined by the company in cents or any fraction thereof, and 2. The rightful holders may, at their option, […]
§ 572. Registration required. No trading stamp company shall advertise or distribute trading stamps issued in this state unless it shall have filed with the secretary of state a statement of registration accompanied by representative samples of its stamps, stamp collection books, stamp redemption catalogues and stamp distribution and redemption agreement forms, currently used in […]
§ 573. Statement of registration. Each statement of registration hereinbefore required shall contain the following information: 1. The name and principal address of the company; 2. The state of its incorporation or origin; 3. The names and addresses of its principal officers, partners or proprietors; 4. The address of its principal office in this state; […]
§ 574. Registration fee. The trading stamp company shall pay an annual registration fee of one hundred dollars to the secretary of state at the time of filing each registration statement.
§ 575. Bond required. 1. At the time of filing each registration statement, the trading stamp company must also file with the secretary of state a bond payable to the people of the state of New York and duly executed by the company and a corporate surety qualified to do business in this state; such […]
§ 576. Claims by rightful holders of trading stamps. 1. If a trading stamp company defaults in the redemption of its stamps when they are duly presented for redemption by residents of this state who are the rightful holders of such stamps, all such holders of such trading stamps, including retailers in possession of such […]
§ 577. Notice of intention to suspend or cease redemption of stamps. No trading stamp company shall cease or suspend the redemption of trading stamps in this state without filing with the secretary of state at least ninety days’ prior written notice of its intention to do so and concurrently mailing a copy of such […]
§ 578. Pre-emption by state. The regulation of trading stamp companies and trading stamps, including the advertising, issuance and redemption thereof, shall be governed solely by the provisions of this article and no local laws or ordinances shall be promulgated with respect thereto.
§ 579. Violation a misdemeanor; injunction. 1. Any person or trading stamp company violating any provision of this article shall be guilty of a misdemeanor punishable by a fine of not more than five hundred dollars. 2. The supreme court of this state shall have jurisdiction in equity on the complaint of the attorney general […]
