Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 12, 2011 |
enacting clause stricken |
Jan 05, 2011 |
referred to consumer affairs and protection |
Assembly Bill A983
2011-2012 Legislative Session
Sponsored By
PHEFFER
Archive: Last Bill Status - Stricken
- 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
Actions
2011-A983 (ACTIVE) - Details
- Law Section:
- General Business Law
- Laws Affected:
- Add Art 38-B ยงยง825 & 826, Gen Bus L
- Versions Introduced in 2009-2010 Legislative Session:
-
A175
2011-A983 (ACTIVE) - Summary
Defines the liability of consumers and banks with respect to signatures of authorized representatives in certain consumer transactions involving commercial paper under the uniform commercial code; sets requirements for the validity of such signatures; provides an aggrieved consumer with a private right of action and awards court costs and attorneys fees.
2011-A983 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 983 2011-2012 Regular Sessions I N A S S E M B L Y (PREFILED) January 5, 2011 ___________ Introduced by M. of A. PHEFFER -- read once and referred to the Commit- tee on Consumer Affairs and Protection AN ACT to amend the general business law, in relation to the signature of authorized representatives on certain instruments THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The general business law is amended by adding a new article 38-B to read as follows: ARTICLE 38-B SIGNATURE OF AUTHORIZED REPRESENTATIVES SECTION 825. DEFINITIONS. 826. SIGNATURE BY AUTHORIZED REPRESENTATIVE. S 825. DEFINITIONS. AS USED IN THIS ARTICLE: (A) "ACCOUNT" MEANS ANY ACCOUNT WITH A BANK AND INCLUDES A CHECKING, TIME, INTEREST, SAVINGS, OR NEGOTIABLE ORDER OF WITHDRAWAL ACCOUNT; (B) "BANK" MEANS AND INCLUDES ANY ENTITY ENGAGED IN THE BUSINESS OF BANKING; (C) "CONSUMER" MEANS ANY NATURAL PERSON; (D) "CONSUMER TRANSACTION" MEANS THE PURCHASE OR LEASE OF OR THE ATTEMPT TO PURCHASE OR LEASE ANY GOODS OR SERVICES BY A CONSUMER, OR THE EXTENSION OF OR THE ATTEMPT TO EXTEND CREDIT TO ANY CONSUMER, FOR PERSONAL, HOUSEHOLD, OR FAMILY PURPOSES; (E) "ENTITY" MEANS A NATURAL PERSON, PARTNERSHIP, CORPORATION, LIMITED LIABILITY COMPANY, ASSOCIATION, OR OTHER LEGAL ORGANIZATION; (F) "ITEM" MEANS ANY INSTRUMENT FOR THE PAYMENT OF MONEY, INCLUDING BUT NOT LIMITED TO A NONNEGOTIABLE INSTRUMENT, BUT DOES NOT INCLUDE MONEY; AND (G) "NEGOTIABLE ORDER OF WITHDRAWAL ACCOUNT" MEANS AN ACCOUNT AUTHOR- IZED BY SUBDIVISION A OF SECTION EIGHTEEN HUNDRED THIRTY-TWO OF TITLE TWELVE OF THE UNITED STATES CODE. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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