§ 11-09 Wholesale Business and Market Business Operations.
RCNY § 11-09
(a)Registration not transferable. Wholesale businesses and market businesses must not transfer their registration or registration numbers as part of the sale of such businesses.
(b)Furnishing and display of registration or registration numbers. A wholesale business or market business must conspicuously and prominently display its registration certificate issued by the Commission at its place of business.
(c)Recordkeeping. Wholesale businesses or market businesses must retain copies of all invoices and other documents reflecting deliveries or payments from or to suppliers and customers. Electronic copies of such books and records are acceptable. Such bills and records must accurately reflect the amount of goods or services involved in each transaction, and must, along with all other records produced or received in the normal course of business, be retained for a minimum of thirty-six (36) months, and must be made available for immediate inspection and/or copying upon request by the market manager, a designee of the market manager, or an employee of the Commission.
(d)Workers' Compensation Insurance. Wholesale businesses or market businesses must submit proof that they have obtained the required Workers' Compensation and Disability Benefits Coverage or that they are exempt from Section 57 of the Workers' Compensation Law and Subdivision 8 of Section 220 of the Disability Benefits Law.
(1)Proof of coverage can be established by submitting the following Workers' Compensation Board forms: (i) C-105.2 Application for Certificate of Workers' Compensation Insurance; (ii) DB-120.1 Employer's Application for Certificate of Compliance with Disability Benefits Law; (iii) S1-12 Affidavit certifying that compensation has been secured.
(2)Proof that no coverage is required can be provided by submitting the following Workers' Compensation Board form: (i) C-105.21 Statement that applicant does not require Workers' Compensation or Disability Benefits Coverage.
(e)Liability insurance. Wholesale businesses or market businesses must procure and maintain throughout the term of the registration the following types of insurance against claims for injuries to persons or damages to property which may arise from or in connection with the business: (1) Commercial general liability insurance with liability limits of no less than one million dollars ($1,000,000) combined single limit per occurrence for bodily injury, personal, and property damage. The maximum deductible for such insurance shall be no more than twenty-five thousand dollars ($25,000).
(f)The policy or policies of insurance required by this section must name the Commission as certificate holder and must be endorsed to state that the coverage shall not be suspended, voided, canceled, or reduced in coverage or in limits except upon sixty (60) days prior written notice to the Commission. Failure to maintain continuous insurance coverage meeting the requirements of these rules will result in revocation of the registration. Such policy or policies of insurance must be obtained from a company or companies duly authorized to do business in the State of New York with a Best's rating of no less than A:X unless specific approval has been granted by the Commission to accept a company with a lower rating. A certificate of insurance effecting the required coverage and signed by a person authorized by the insurer to bind coverage on its behalf must be delivered to the Commission prior to the effective date of the registration. Delivery to the Commission's offices may be made in person, by first class mail, or by e-mail to [email protected]. A registrant must demonstrate that the registrant has secured the insurance coverage required pursuant to this section and must maintain such required insurance coverage throughout the term of the registration.
(g)Wholesale businesses and market businesses shall be jointly and severally liable for any violation of Chapter 1-B of Title 22 of the Code or of this subchapter by any of their employees or agents.
(h)Each wholesale business and market business must permit the Commission, or any person designated by the Commission, to enter its premises whenever in the discretion of the Commission such entry is necessary. (Amended City Record 3/6/2018, eff. 4/5/2018)
