New York Codes, Rules and Regulations
Title 23 - FINANCIAL SERVICES
Chapter I - Regulations of the Superintendent of Financial Services
Part 600
Section 600.24 - Applicability of the CFDL
Current through Register Vol. 46, No. 52, December 24, 2024
(a) The obligation to provide any disclosures under the CFDL applies if the recipient's business is principally directed or managed from the state of New York, or, in the case of a natural person, the recipient is a legal resident of the state of New York.
(b) For the purpose of determining whether a recipient's business is "principally directed or managed from New York," a provider may rely upon any written representation by the recipient as to whether it is principally directed or managed from the state of New York, or may rely upon the business address provided by the recipient to the provider in the application for financing or any other financing documents. If the recipient is a natural person, then the provider may rely upon the recipient's address as shown on recipient's current driver's license or other government-issued identification document, or recipient's written representation as to recipient's current legal address.
