§ 5-226 Acceptable Forms of Verification of Pledgor's Identity and Required Records.
RCNY § 5-226
(a)It shall be the duty of every collateral loan broker to verify the identity of every person from whom he accepts any article as a pledge for a loan and to make and keep a written record of the nature of the evidence submitted by such person to prove his identity. Only the following shall be deemed acceptable evidence of identity: (1) Any official document issued by the United States government, any state, county, municipality or subdivision thereof, any public agency or department thereof, or any public or private employer, which requires and bears signature of person to whom issued.
(2)Police, fire department and postal department badges containing numbers.
(3)A passport.
(b)In addition, and in every case, it shall be the duty of every collateral loan broker, to require that every person from whom he accepts an article as a pledge for a loan, sign his name in the presence of the collateral loan broker, compare the signature with the signature on the identifying document and retain on his premises the person's signature together with the number and description of the identifying document.
