Assembly Bill A8438

2011-2012 Legislative Session

Conforms state law to recent federal changes pertaining to motor vehicle retail leasing to enhance consumer protection; repealer

download bill text pdf

Sponsored By

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

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

multi-Sponsors

2011-A8438 (ACTIVE) - Details

Current Committee:
Assembly Consumer Affairs And Protection
Law Section:
Personal Property Law
Laws Affected:
Rpld §331 sub 7, amd Pers Prop L, generally; amd §396-p, add §198-d, Gen Bus L
Versions Introduced in 2009-2010 Legislative Session:
A3244

2011-A8438 (ACTIVE) - Summary

Conforms state law to recent federal changes pertaining to motor vehicle retail leasing to enhance consumer protection; provides for additional disclosures regarding terms and conditions, fees, etc.; provides for a three day cooling off period for leases and for the purchase of new and used vehicles; discourages leasing companies from charging termination fees by allowing those lessors who do not charge such a fee to dispose of the vehicle immediately after coming to a mutually agreed upon final payment by the consumer

2011-A8438 (ACTIVE) - Bill Text download pdf

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

                                  8438

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                              June 15, 2011
                               ___________

Introduced  by M. of A. DINOWITZ -- Multi-Sponsored by -- M. of A. BREN-
  NAN, CLARK, FARRELL, GLICK, GOTTFRIED, HOOPER, JACOBS, MAGEE, MILLMAN,
  ORTIZ, WEINSTEIN -- read once and referred to the Committee on Consum-
  er Affairs and Protection

AN ACT to amend the personal property law and the general business  law,
  in  relation  to enhancing consumer protection in motor vehicle retail
  leasing, conforming to federal requirements, and providing for a cool-
  ing off period for leasing and purchasing and to repeal subdivision  7
  of section 331 of the personal property law relating to "initial early
  termination charge"

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

  Section 1. Subdivision 7 of section 331 of the personal property  law,
as amended by chapter 111 of the laws of 1995, is REPEALED.
  S  2.  Section 331 of the personal property law, as added by chapter 1
of the laws of 1994, subdivisions 6, 7, 9, 11, 12 and 19 as amended  and
subdivision  24 as renumbered by chapter 140 of the laws of 1995, subdi-
visions 14 and 18 as amended by chapter 111 of the  laws  of  1995,  and
subdivision 13 as separately amended by chapters 111 and 140 of the laws
of 1995, is amended to read as follows:
  S  331.  Definitions.  In  this article, unless the context or subject
matter otherwise requires:
  1. "Motor vehicle" or "vehicle" means any device propelled or drawn by
any power other than muscular power, upon or  by  which  any  person  or
property  is  or may be transported or drawn upon a public highway, road
or street. The term does not include a "snowmobile" as defined in subdi-
vision three of section 21.05 of  the  parks,  recreation  and  historic
preservation  law  or  other vehicles not designed primarily for highway
transportation, but which may incidentally transport persons or property
on a public highway.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00742-01-1

              

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.