N.Y. GBS Law § 41

§ 41. Licenses, how obtained; penalty for carrying on business without\nlicense. The mayor or such local licensing authority may from time to\ntime grant, under his or her hand and the official seal of his or her\noffice, to such citizens, or noncitizens lawfully admitted for permanent\nresidence in the United States, as he or she shall deem proper and who\nshall produce to him satisfactory evidence of their good character, a\nlicense authorizing such person to carry on the business of a collateral\nloan broker, which license shall designate the house in which such\nperson shall carry on said business, and no person, corporation,\npartnership or firm shall carry on the business of a collateral loan\nbroker without being duly licensed, nor in any other house than the one\ndesignated in said license, under a penalty of one hundred dollars for\neach day he or they shall exercise or carry on said business without\nsuch license or at any other house than the one so designated. Any\nperson receiving such license shall pay therefor the sum of five hundred\ndollars for the use of the city yearly where such business is to be\nconducted in a city with a population of more than one million persons,\nand where the business is to be conducted elsewhere the fee for such\nlicense shall not exceed two hundred fifty dollars yearly, and every\nsuch license shall expire one year from the date thereof, and may be\nrenewed on application to the mayor or local licensing authority each\nand every year on payment of the same sum and upon performance of the\nother conditions herein contained. Every person so licensed shall, at\nthe time of receiving such license, file with the mayor or such local\nlicensing authority granting the same a bond to the local authorities,\nto be executed by the person so licensed and by two responsible\nsureties, in the penal sum of ten thousand dollars, to be approved by\nsuch mayor or local licensing authority, which bond shall be conditioned\nfor the faithful performance of the duties and obligations pertaining to\nthe business so licensed, and the mayor or such local licensing\nauthority shall have full power and authority to revoke such license for\ncause.\n