N.Y. Comp. Codes R. & Regs. tit. 3 § 406.1
This Part contains regulations relating to the transmission of money by licensees and their agents under article XIII-B of the Banking Law. For purposes of this Part, the business of transmission of money will be divided into three categories: the issuance and sale of travelers checks to the public, the sale and issuance of money orders to the public, and the transmission of money on behalf of the public by any and all other means or manner including but not limited to transmissions within this country or to locations abroad by wire, check, draft, facsimile or courier. Although a number of the subdivisions of this Part apply to all licensees and their agents and subagents, other subdivisions apply exclusively to those transmission activities that fall within the scope of the third category of transmission. As provided in Banking Law, section 641, the provisions contained in this Part shall not apply to an agent of a payee as defined in section 406.2(a) of this Part. Only agents of a payee which do not engage in any money transmission activities other than as an agent of a payee are exempt from the provisions of this Part.
N.Y. Comp. Codes R. & Regs. Tit. 3 § 406.1