652-B - Tying arrangements.

§ 652-b.   Tying  arrangements.  1.  It  shall  be  unlawful  for  any  transmitter of money or its  officers,  affiliates  or  subsidiaries  to  enter  into  an  agreement with a check casher, licensed pursuant to the  provisions of article nine-A of this chapter, whereby credit is extended  to the check casher at the same time as, and on the condition that,  the  transmitter  of  money  enters  into  an agreement with the check casher  whereby the check casher will (1) sell only the New York instruments  or  New  York  traveler's checks of the transmitter of money or (2) agree to  the exclusive use of any of the other services  of  the  transmitter  of  money.  This section shall not apply to the issuance by a transmitter of  money  of  a  guarantee  of  any indebtedness of a check casher licensed  pursuant to the provisions of article nine-A of this chapter.    2. For purposes of this section the term "transmitter of money"  means  a  licensee,  as  such term is defined in subdivision two of section six  hundred forty of this article, a bank, trust  company,  private  banker,  savings  bank,  savings  and  loan  association,  credit  union, foreign  banking corporation licensed pursuant to article five of  this  chapter,  national  banking association, federal savings bank, federal savings and  loan  association,  federal  credit  union,  foreign   banking   company  authorized  to operate pursuant to the international banking act of 1978  (12 USC 3101 et seq.), as amended,  and  an  investment  company,  which  either  directly  or through agents transacts the business in this state  of selling or issuing  New  York  instruments  or  New  York  traveler's  checks.    For purposes of this section the terms "New York instruments" and "New  York  traveler's  checks"  shall  have  the  meaning ascribed to them by  section six hundred fifty-three of this chapter.