Instructions: Casher of Checks, Limited Station License
The following items must be submitted when applying for a new Limited Station License or a change of location of an existing limited station licensee:
- A completed Application for Limited Station License.
- A letter from the company for which the service will be provided. This letter, on the company’s letterhead, must be signed by an officer or partner of the company and should specify both the address where the limited station services will be provided and the day(s) of the week (limited to two days) and the hours of the day(s).
- The applicant’s audited year-end financial statement. If the application is submitted six months or longer into the new fiscal year, an interim financial statement for the six month period will need to be submitted. A compilation opinion is acceptable.
- The applicant is required to submit the following documentation:
- Personal Financial Statement
- Authority to Release Information form
- Litigation Affidavit
- Background Report
These documents are required from any individual with an ownership interest of 10% or more in the applicant, including but not limited to directors, officers, stockholders, members, the compliance officer and any other individual(s) who have managerial or supervisory responsibilities, i.e. an operations manager.
Item #s (1) through (4) are required if the existing documents are more than one year old.
Item # (5) is required if the existing Background report is more than three years old.
- A check in the amount of $500.00 payable to the “Superintendent of Financial Services” for the investigation fee.
Please note that a separate application must be submitted for each company location to be serviced. In addition, you may not begin to provide services to the company at the proposed limited station location until the application has been approved and the license has been issued.
Please review Section 400.9 of Part 400 of the Superintendent’s Regulations, which is available through via the NY Codes, Rules and Regulations (NYCRR), Title 3, Banking Department, Chapter III Superintendent’s Regulations, Subchapter B Non-Banking Organizations, Part 400. A link to the NYCRR can be found in the banner at the top of our website.