Regulates commercial finance licensing in New York state; outlines application process and conditions for issuance.

The bill regulates commercial finance licensing in New York state, prohibiting businesses from making or soliciting commercial financing products without a license. It sets forth the application process for such licensing, including financial solvency requirements and fingerprint submissions for background checks. The superintendent of financial services is authorized to approve or deny applications within ninety days. The bill also outlines conditions for license issuance, including financial responsibility and character of the applicant.

Regulates commercial finance licensing in New York state; outlines application process and conditions for issuance.

The bill regulates commercial finance licensing in New York state, prohibiting businesses from making or soliciting commercial financing products without a license. It sets forth the application process for such licensing, including financial solvency requirements and fingerprint submissions for background checks. The superintendent of financial services is authorized to approve or deny applications within ninety days. The bill also outlines conditions for license issuance, including financial responsibility and character of the applicant.