New York Consolidated Laws, Banking Law - BNK § 161. Authorization certificate

If the superintendent shall issue an authorization certificate as provided in article two of this chapter, such individual or partnership may engage in the business of banking including receiving deposits subject to check or for repayment upon the presentation of a pass book, certificate of deposit or other evidence of debt, or upon the request of the depositor, or in the discretion of such individual, or partnership;  receiving money for transmission;  discounting or negotiating promissory notes, drafts, bills of exchange or other evidences of debt;  and buying or selling exchange, coin or bullion at the location specified in such authorization certificate, subject to all the restrictions and limitations contained in this chapter.  In conducting such business a private banker may make use of the words “bank,” “banker” or “banking” or their equivalent or any derivative or compound thereof.