N.Y. General Business Law 426 – Violations and penalties
§ 426. Violations and penalties. 1. Any person, partnership, association or corporation and the several members, principals, officers, directors, agents and employees thereof, who knowingly and willfully makes material misstatements in the application for a renewal of a license in this article shall be guilty of a misdemeanor, which upon conviction shall be punishable by imprisonment for not more than six months or by a fine of not more than one thousand dollars, or by both such fine and imprisonment, upon the first conviction and by a term of imprisonment not to exceed one year, or by a fine of not less than one thousand dollars and not to exceed two thousand five hundred dollars, or by both such fine and imprisonment, upon a subsequent conviction.
Terms Used In N.Y. General Business Law 426
- Conviction: A judgement of guilt against a criminal defendant.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- department: means the department of state. See N.Y. General Business Law 419
- licensee: means a coin processor that has been issued a license in accordance with the provisions of this article. See N.Y. General Business Law 419
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- secretary: means the secretary of state. See N.Y. General Business Law 419
2. Any licensee who shall knowingly and willfully fail to surrender his or her license within five days of receipt of notice of suspension, revocation or non-renewal thereof by the secretary, or the officer designated by the secretary to preside over the hearing, pursuant to the provisions of section four hundred twenty-four of this article, shall be guilty of a violation, punishable by a fine not to exceed two hundred fifty dollars, in addition to any other penalty prescribed by law.
3. Notwithstanding the provisions of subdivision two of this section, when it is determined after a hearing pursuant to section four hundred twenty-four of this article that the licensee has violated one or more provisions of this article, the secretary may, in lieu of revocation or suspension of such license, impose a fine not to exceed one thousand dollars for each violation payable to the department.