§ 5-221 Fees.
RCNY § 5-221
No collateral loan broker shall charge or exact a fee other than that permitted by § 44 of the General Business Law, except that the collateral loan broker may charge a reasonable fee for: (1) insuring the articles from injury, fire, theft, burglary, robbery and other contingencies; and (2) extra care actually given when specifically requested by the customer and only if such fee does not exceed the following amounts: (i) Storage of furs, fur coats, fragile, delicate or bulky items: $25.00.
(ii)Storage of art objects including paintings, sculptures and all works in any other medium for sizes not to exceed 36 inches by 36 inches: $25.00 plus any costs actually incurred for special crating and packaging; and for sizes exceeding the foregoing: an amount separately agreed to by the parties.
(iii)Vault storage for stamp or coin collection: $20.00.
(iv)Vault storage for jewelry: 2 percent of the amount of the loan not to exceed $20.00; if the loan exceeds $1,000: an amount separately agreed to by the parties.
(v)Transportation of pledged items to and from the vault either by courier(s) or vehicle(s), together with security therefore: one percent of the amount loaned.
(vi)Special handling or wrapping of cameras and photographic equipment: $5.00.
(vii)Special handling of musical instruments: $5.00 for standard size; instruments exceeding standard size: by separate agreement of the parties.
(viii)Special handling of radios, hi-fi's, VCR's, stereos and television equipment: $10.00.
(ix)Special handling for other electrical apparatus, including computers: $10.00.
