Assembly Bill A5406

2009-2010 Legislative Session

Requires written notice of wear and tear damage that a motor vehicle lease holder is liable for

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Archive: Last Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2009-A5406 (ACTIVE) - Details

Current Committee:
Assembly Consumer Affairs And Protection
Law Section:
Personal Property Law
Laws Affected:
Amd ยง343, Pers Prop L
Versions Introduced in 2011-2012 Legislative Session:
A4862

2009-A5406 (ACTIVE) - Summary

Requires written notice of wear and tear damage that a motor vehicle lease holder is liable for.

2009-A5406 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  5406

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            February 13, 2009
                               ___________

Introduced by M. of A. BUTLER -- read once and referred to the Committee
  on Consumer Affairs and Protection

AN  ACT  to  amend  the  personal property law, in relation to requiring
  vehicle retail lease agreements charging for excess  wear  to  itemize
  the components examined to make such determination

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The opening paragraph of subdivision 2 of  section  343  of
the  personal  property  law,  as  amended by chapter 111 of the laws of
1995, is amended to read as follows:
  In order for a holder to impose a charge for excess wear and damage to
a vehicle subject to a retail lease  agreement,  [such  agreement  shall
contain  a  clause  describing the excess wear and damage to the vehicle
for which the lessee may be liable] SUCH HOLDER MUST PROVIDE THE  LESSEE
WITH  A  WRITTEN  STATEMENT DESCRIBING THE EXCESS WEAR AND DAMAGE TO THE
VEHICLE FOR WHICH THE LESSEE MAY BE LIABLE. THIS STATEMENT MUST  CONTAIN
A  PROVISION  SPECIFICALLY ITEMIZING ALL COMPONENTS OF THE VEHICLE TO BE
EXAMINED AND THE METHOD USED TO EXAMINE THE VEHICLE BEFORE  ARRIVING  AT
THE  FINAL  EXCESSIVE  WEAR  AND DAMAGE CHARGE. THIS INFORMATION MUST BE
PROVIDED TO THE CONSUMER PRIOR TO THE SIGNING OF  THE  LEASE  AGREEMENT.
Such  holder  shall,  not more than forty days nor less than twenty days
prior to the scheduled termination date, or, not more than ten  business
days  after  the date of an early termination of a lease agreement, mail
or deliver to the lessee a notice advising the lessee of  the  following
rights and obligations of the parties, herein granted and imposed:
  S  2.  This act shall take effect September 1, 2009 and shall apply to
all retail leases entered into on and after such date.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07876-01-9

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