§ 373. Acts prohibited; suspension or revocation of license;
penalties. 1. No licensee shall engage in the business of making loans
of money, credit, goods or things or discounting of notes, bills of
exchange, checks, or other evidences of debt pursuant to the provisions
of article nine of this chapter, nor shall a loan business or the
negotiation of loans or the discounting of notes, bills of exchange,
checks or other evidences of debt be conducted on the same premises
where the licensee is conducting business pursuant to the provisions of
this article. Except as otherwise provided by regulation of the
superintendent, all checks, drafts and money orders shall be deposited
in the licensee's bank account not later than the first business day
following the day on which they were cashed. No licensee shall at any
time cash or advance any moneys on a post-dated check or draft or engage
in the business of transmitting money or receiving money for
transmission; provided, however, that a licensee may cash a check
payable on the first banking business day following the date of cashing
(a) if such check is drawn by the United States, the state of New York,
or any political subdivision of the state of New York, or by any
department, bureau, agency, authority, instrumentality or officer,
acting in his official capacity, of the United States or of the state of
New York or of any political subdivision of the state of New York, or
(b) if such check is a payroll check drawn by an employer to the order
of its employee in payment for services performed by such employee. No
licensee shall cash any check, draft or money order if the face amount
for which it is drawn is in excess of fifteen thousand dollars;
provided, however, that this restriction shall not apply to the cashing
of checks, drafts or money orders drawn by the United States, any state
thereof or any political subdivision of any such state, or by any
department, bureau, agency, authority, instrumentality or officer,
acting in his official capacity, of the United States, any state thereof
or any political subdivision of any such state, or any banking
institution, or to any check or draft drawn by any insurance company,
any broker or dealer registered with the securities and exchange
commission, or any attorney for the settlement of claims, or to any
check which has been certified by the banking institution on which it
has been drawn; provided further, however, that any such restriction
upon the maximum face amount that may be cashed by a licensee shall not
apply to the cashing of checks, drafts or money orders by licensees for
payees of such checks, drafts or money orders that are other than
natural persons. For purposes of this subdivision, "banking institution"
means any bank, trust company, savings bank, savings and loan
association or credit union which is incorporated, chartered or
organized under the laws of this state or any other state or the United
States.

2. The superintendent may suspend or revoke any license or licenses
issued pursuant to this article if, after notice and a hearing, he shall
find that the licensee (a) has committed any fraud, engaged in any
dishonest activities or made any misrepresentation; or (b) has violated
any provisions of the banking law or any regulation issued pursuant
thereto, or has violated any other law in the course of its or his
dealings as a licensed casher of checks; or (c) has made a false
statement in the application for such license or failed to give a true
reply to a question in such application; or (d) has demonstrated his or
its incompetency or untrustworthiness to act as a licensed casher of
checks; or (e) is not doing sufficient business pursuant to this article
to justify the continuance of the license, or if he shall find that any
ground or grounds exist which would require or warrant the refusal of an
application for the issuance of the license if such an application were
then before him. Such a hearing shall be held in the manner and upon
such notice as may be prescribed by the superintendent. Pending an
investigation or a hearing for the suspension or revocation of any
license or licenses issued pursuant to this article, the superintendent
may temporarily suspend such license or licenses for a period not to
exceed ninety days, provided the superintendent shall find that such a
temporary suspension is in the public interest.

3. Whenever the superintendent shall suspend or revoke a license
issued pursuant to this article, he shall forthwith execute a written
order to that effect. The superintendent shall on the date such order is
executed file one copy thereof in the office of the department and serve
a second copy thereof on the licensee either personally or by mailing
the same to the last known address of such licensee. Such order shall be
subject to review by the supreme court in the manner provided in article
seventy-eight of the civil practice law and rules; provided, however,
that a special proceeding for review of such order must be commenced
within thirty days from the date of such order of suspension or
revocation and, provided further, that no stay shall be granted pending
the determination of the matter except on notice to the superintendent
and for a period not exceeding thirty days.

4. Any person, partnership, association or corporation and the several
members, officers, directors, agents and employees thereof, who shall
violate any of the provisions of this article, shall be guilty of a
misdemeanor, and shall be punishable by imprisonment for not more than
one year or by a fine of not more than five hundred dollars, or by both
such fine and imprisonment.

5. Notwithstanding the provisions of subdivision four of this section,
any person, partnership, association or corporation and the several
members, officers, directors, agents and employees thereof who shall
violate the provisions of subdivision one of section three hundred
sixty-seven of this article shall be guilty of a class A misdemeanor.