No person, corporation, partnership or firm
shall hereafter carry on the business of collateral loan broker within
the City without having first obtained a license from the City Clerk
upon the conditions stated in Article 5 of the General Business Law.
Each person receiving a collateral loan broker's
license shall pay to the City Treasurer the sum of $100.
Any person licensed under this article shall
comply with all the regulations contained in Article 5 of the General
Business Law.