[HISTORY: Adopted by the Board of Trustees of the Village of Patchogue 11-26-1973 (Ch. 63 of the 1968 Code). Amendments noted where applicable.]
No person, corporation, partnership or firm shall carry on the business of collateral loan broker, as defined and construed under Article 5 of the General Business Law of the State of New York, without having first obtained from the Mayor a license of the Incorporated Village of Patchogue authorizing such person to carry on the same.
The license fee shall be in the sum of $250 per annum.
Every applicant for a license to conduct the business of collateral loan broker as referred to herein shall file with the license a bond to the Incorporated Village of Patchogue to be executed by the applicant and two responsible sureties in the penal sum of $10,000, to be approved by the Mayor, which bond shall be conditioned for the faithful performance of the duties and obligations pertaining to such business and which bond shall otherwise comply with the provisions of Article 5 of the General Business Law.
Any application for a license hereunder, the rights and duties of any licensee and of the Mayor of the Incorporated Village of Patchogue with respect thereto and the conduct of any such business as a collateral loan broker shall be subject to all the provisions of Article 5 of the General Business Law of the State of New York.