New York Laws
Article 9 - Licensed Lenders
355 - Solicitation of Loans.

§ 355. Solicitation of loans. 1. Any loan made by a person not
licensed under this article to a resident of this state, in the amount,
not exceeding the maximum amounts prescribed in section three hundred
forty of this article, where solicitation of the loan was made within
this state, and where the interest, discount, consideration or other
charge contracted for or received exceeds that permitted to a licensee
under the laws of this state shall be void, and the lender shall have no
right to collect or receive any principal, interest or charge
whatsoever. No action to enforce a loan made in violation of this
subdivision may be maintained, even though the amount demanded to be
paid in such action does not exceed that permitted to a licensee under
the laws of this state.

2. For purposes of this article, solicitation of a loan shall include
any solicitation, request or inducement to enter into a loan made by
means of or through a direct mailing, television or radio announcement
or advertisement, advertisement in a newspaper, magazine, leaflet or
pamphlet distributed within this state, or visual display within this
state, whether or not such solicitation, request or inducement
constitutes an offer to enter into a contract.