New York Codes, Rules and Regulations
Title 3 - BANKING
Chapter III - SUPERINTENDENT'S REGULATIONS
Subchapter B - NON-BANKING ORGANIZATIONS
Part 403 - Sales Finance Companies
Section 403.4 - Changes in directors, officers or stockholders
Universal Citation: 3 NY Comp Codes Rules and Regs ยง 403.4
Current through Register Vol. 46, No. 12, March 20, 2024
(a) Every corporate licensee shall within 10 days after the occurrence of the event advise the superintendent, in writing:
(1) of the name and residence of each
stockholder owning 20 percent or more of the stock of the licensee, and of each
director and officer who terminates or alters his status with the licensee,
and
(2) the name and residence of
each person who becomes a stockholder owning 20 percent or more of the stock of
the licensee, or a director or officer.
(b) If paragraph (2) above is applicable, advise the superintendent, in writing, whether or not:
(1) any such person has ever previously
applied for a license to do business as a sales finance company in this State,
and the disposition of such application;
(2) any such person, previously licensed
under article 11-B of the Banking Law, has had such license revoked or
suspended;
(3) any such person has
ever applied to any other State for a license to engage in the business of
acquiring retail installment contracts, obligations or credit agreements, and
the disposition of such application;
(4) any license to engage in the business of
acquiring retail installment contracts, obligations or credit agreements,
issued by any other State to any such person, has ever been revoked or
suspended;
(5) any such person has
ever been found guilty of violating any of the provisions of article 11-B of
the Banking Law or any other law regulating retail installment sales contracts,
obligations or credit agreements;
(6) any such person has ever been responsible
for any act or omission in consequence of which a license issued under article
11-B of the Banking Law to any person has been revoked or suspended.
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.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
