New York Codes, Rules and Regulations
Title 2 - DEPARTMENT OF AUDIT AND CONTROL
Chapter I - Audit Of Revenues And Accounts Payable From State Funds And Funds Under Its Control
Part 15 - Collateral Loan Brokers
Section 15.3 - Collateral loan broker's report of auction sale
Universal Citation: 2 NY Comp Codes Rules and Regs ยง 15.3
Current through Register Vol. 45, No. 52, December 27, 2023
Each and every collateral loan broker is required by law to file a verified report of auction sale with the local governing body issuing collateral loan broker's licenses, within 30 days after such sale. This report must include the following information:
(a) name and address of collateral loan broker;
(b) date and place where sale was held;
(c) name and address of auctioneer;
(d) schedule of each defaulted pledge offered for sale, together with:
(1) pledge number;
(2) auction lot number;
(3) amount received for each pledge;
and
(4) a statement that each of
the pledges so listed were delivered over to the auctioneer and actually
offered for sale at such auction;
(e) collateral loan broker's "purchase backs":
(1) a statement setting forth which
pledges were purchased back by the collateral loan broker; and
(f) affidavit of publication made by the newspaper in which notice of each such sale was published.
Disclaimer: These regulations may not be the most recent version. New York may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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