VTL 2257-B — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 2257-A Suspension, revocation or refusal to issue dealer registration; suspension or revocation of dealer demonstrator number or trailer plate; ... up ARTICLE 48 Registration of Vessels next SECTION 2258 Rules and regulations Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 2257-B Yacht brokers Vehicle & Traffic (VAT) CHAPTER 71, TITLE 11, ARTICLE 48 § 2257-b. Yacht brokers. 1. A yacht broker is any person who, for a fee or commission, acts as an agent for either the buyer or seller of a vessel. On and after April first, nineteen hundred eighty-six, a person who engages in business as a yacht broker shall certify to the commissioner that he is a yacht broker. The failure of a person engaged in business as a yacht broker to certify to the commissioner that he is a yacht broker shall be a violation. 2. A yacht broker shall be required to keep records of all transactions concerning the purchase and sale of any vessel in which he acted as agent for either the buyer or seller. Such records shall be maintained in a manner prescribed by the commissioner and shall be available upon request during business hours to any peace officer or agent of the commissioner. The failure to produce such records as required by this section shall be a violation.