Depends on if the cop is a dick or not, and if youre a dick about it or not. lol..
Technically, he could impound the bike.. If you make up a bullshit story and make it sound believable, are registered and insured, you'll prob just get a ticket for unlicensed operation, then show up in court with your license and they will prob drop it completely or to just a traffic violation instead of a misdemeanor. If he is a nice guy and got laid the night before, then he might just let you off with a warning and tell you to get off the road..
laws must be a little different in NY. if you a riding with a guy licensed here in iowa they won't do anything if you have a permit. not sure on how long you can go on a permit though. sucks having to follow a guy home just so the cops don't pull him over. cops are frickin' asses in this town!!!
Well you have to also think of it this what. You get you license in June which is just around the corner.
If you get stop and popo see that you have just a permit and riding alone. You won't be riding for a long time.
So you decide, 1. I could wait a months time get my license and ride legal. 2. ride illegal now and risk the chance of getting pulled and get a ticket for riding with just a permit, risk the chance of getting your bike impounded, risk your chances of get a license in the near future. The choice is yours. But for me I choose #1.