2257-B - Yacht brokers. - New York Statutes

§ 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.