Posted by GMann on April 15, 2006 at 18:09:47:
Call and ask the NY banking dept. Don’t be shy…They are paid by your tax dollars.
http://www.banking.state.ny.us/simbanke.htm
Mortgage Banking Division
One State Street
New York, NY 10004-1417
(212) 709-5574
Legality of advertising for private money - Posted by NY Investments
Posted by NY Investments on April 15, 2006 at 13:45:27:
Are there any laws in New York that dictate how you can advertise for private money ? Where can this information be found? Thank you.
Re: Legality of advertising for private money - Posted by John Corey
Posted by John Corey on April 16, 2006 at 09:52:50:
There are state and federal laws. The laws focus on securities and any investment where the person with the money does not decide how the money will be invested is over the line. A RE deal where you make many of the decisions would cross the line.
In the area of securities the public needs to be protected from themselves. Hence the public is assumed to be naive. More or less guilty until proven innocent is the position that will be applied to the advertiser.
Gary’s advice concerning NY is good. Also note that there are federal rules (SEC website). A lawyer can explain if the state or the federal is the more restrictive area.
John Corey