N.Y. Comp. Codes R. & Regs. Tit. 3 § 407.3 - Offices within new york state
(a) No licensee may operate any place of
business within New York State, except for the sole purpose of handling
inquiries and complaints of existing borrowers of the licensee. At such an
office, no loans may be made, no loan applications distributed to or received
from the public and no monetary disbursements may be made to or received from
the public.
(b) Every licensee must
either:
(1) operate at least one office in
New York State for the sole purpose of handling inquiries or complaints from
existing borrowers, or
(2)
establish either (i) a toll-free phone number or (ii) a phone number which may
be called "collect" for the purpose of enabling borrowers to make inquiries of
or complaints to the licensee. Every person granted a loan must be informed, in
writing, of this phone number at the time the loan is granted.
Notes
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