N.Y. Banking Law 579 – Doing business without license prohibited
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§ 579. Doing business without license prohibited. Only a charitable corporation as defined in paragraph (a) of section one hundred two (Definitions) of the not-for-profit corporation law of this state, or an entity incorporated in another state and having a similar not-for-profit status, shall engage in the business of budget planning as defined in subdivision one of § 455 of the general business law of this state except as authorized by this article and without first obtaining a license from the superintendent.
Terms Used In N.Y. Banking Law 579
- 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.