Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Sep 09, 2020 |
print number 9588a |
Sep 09, 2020 |
amend and recommit to consumer affairs and protection |
Jan 27, 2020 |
referred to consumer affairs and protection |
Assembly Bill A9588A
2019-2020 Legislative Session
Sponsored By
DENDEKKER
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
Actions
Bill Amendments
2019-A9588 - Details
2019-A9588 - Summary
Relates to establishing a set grace period for the use of credit card reward points when an account is modified, cancelled, closed or terminated; ninety days shall be provided for the use of such points from the date notice of modification, cancellation, or termination of the card is provided.
2019-A9588 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9588 I N A S S E M B L Y January 27, 2020 ___________ Introduced by M. of A. DenDEKKER -- read once and referred to the Committee on Consumer Affairs and Protection AN ACT to amend the general business law, in relation to establishing a set grace period for the use of credit card reward points 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 section 520-e to read as follows: § 520-E. GRACE PERIOD FOR USE OF CREDIT CARD REWARD POINTS. 1. AS USED IN THIS SECTION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS: (A) "CREDIT CARD POINTS" OR "POINTS" SHALL MEAN DENOMINATED UNITS THAT CAN BE ACCUMULATED IN AN ACCOUNT IN CONNECTION WITH A CREDIT CARD REWARD, LOYALTY, OR OTHER INCENTIVE PROGRAM, OFTEN REFERRED TO AS POINTS OR FOR CERTAIN TRAVEL-RELATED REWARDS AS MILES, WHICH ARE REDEEMABLE, FUNGIBLE, OR OTHERWISE EXCHANGEABLE, IN WHOLE OR IN PART, FOR REWARDS; (B) "REWARDS" SHALL MEAN GOODS, SERVICES, CASH, MERCHANT-SPECIFIC GIFT CARDS, TRAVEL BENEFITS, OR ONE OR MORE OTHER THINGS OF VALUE; AND (C) "REWARDS PROGRAM" SHALL MEAN ANY AGREEMENT BETWEEN A HOLDER AND AN ISSUER OR BETWEEN A HOLDER AND A THIRD-PARTY REGARDING POINTS RELATED TO AN ACCOUNT. 2. IF ANY CREDIT CARD ACCOUNT OR REWARDS PROGRAM IS MODIFIED, CANCELLED, CLOSED OR TERMINATED, THE HOLDER MUST RECEIVE NOTICE FROM THE ISSUER OF SUCH CANCELLATION, CLOSURE, TERMINATION OR MODIFICATION AS SOON AS POSSIBLE, AND IN ANY EVENT WITHIN FIFTEEN DAYS OF SUCH CANCELLA- TION, CLOSURE, TERMINATION OR MODIFICATION. BEGINNING WITH THE DATE ON WHICH NOTICE IS SENT, THE HOLDER SHALL HAVE NINETY DAYS TO REDEEM, EXCHANGE, OR OTHERWISE USE ANY CREDIT CARD POINTS THAT THE HOLDER ACCU- MULATED AT THE TIME OF SUCH MODIFICATION, CANCELLATION, CLOSURE, OR TERMINATION AS PERMITTED UNDER THE TERMS OF THE AGREEMENT OR AGREEMENTS BETWEEN THE HOLDER AND THE ISSUER, AND THE HOLDER AND ANY THIRD-PARTY WHICH IS SERVICING THE APPLICABLE CREDIT CARD ACCOUNT OR RELATED REWARDS PROGRAM, SUBJECT TO THE AVAILABILITY OF REWARDS. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14416-03-9
2019-A9588A (ACTIVE) - Details
2019-A9588A (ACTIVE) - Summary
Relates to establishing a set grace period for the use of credit card reward points when an account is modified, cancelled, closed or terminated; ninety days shall be provided for the use of such points from the date notice of modification, cancellation, or termination of the card is provided.
2019-A9588A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9588--A I N A S S E M B L Y January 27, 2020 ___________ Introduced by M. of A. DenDEKKER -- read once and referred to the Committee on Consumer Affairs and Protection -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the general business law, in relation to establishing a set grace period for the use of credit card reward points 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 section 520-e to read as follows: § 520-E. GRACE PERIOD FOR USE OF CREDIT CARD REWARD POINTS. 1. AS USED IN THIS SECTION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS: (A) "CREDIT CARD POINTS" OR "POINTS" SHALL MEAN DENOMINATED UNITS THAT CAN BE ACCUMULATED IN AN ACCOUNT IN CONNECTION WITH A CREDIT CARD REWARD, LOYALTY, OR OTHER INCENTIVE PROGRAM, OFTEN REFERRED TO AS POINTS OR FOR CERTAIN TRAVEL-RELATED REWARDS AS MILES, WHICH ARE REDEEMABLE, FUNGIBLE, OR OTHERWISE EXCHANGEABLE, IN WHOLE OR IN PART, FOR REWARDS; (B) "REWARDS" SHALL MEAN GOODS, SERVICES, CASH, MERCHANT-SPECIFIC GIFT CARDS, TRAVEL BENEFITS, OR ONE OR MORE OTHER THINGS OF VALUE; AND (C) "REWARDS PROGRAM" SHALL MEAN ANY AGREEMENT BETWEEN A HOLDER AND AN ISSUER REGARDING POINTS RELATED TO AN ACCOUNT. 2. IF ANY CREDIT CARD ACCOUNT OR REWARDS PROGRAM IS MODIFIED, CANCELLED, CLOSED OR TERMINATED, THE HOLDER MUST RECEIVE NOTICE FROM THE ISSUER OF SUCH CANCELLATION, CLOSURE, TERMINATION OR MODIFICATION AS SOON AS POSSIBLE, AND IN ANY EVENT WITHIN FIFTEEN DAYS OF SUCH CANCELLA- TION, CLOSURE, TERMINATION OR MODIFICATION. BEGINNING WITH THE DATE ON WHICH NOTICE IS SENT, THE HOLDER SHALL HAVE NINETY DAYS TO REDEEM, EXCHANGE, OR OTHERWISE USE ANY CREDIT CARD POINTS THAT THE HOLDER ACCU- MULATED AT THE TIME OF SUCH MODIFICATION, CANCELLATION, CLOSURE, OR TERMINATION AS PERMITTED UNDER THE TERMS OF THE AGREEMENT OR AGREEMENTS BETWEEN THE HOLDER AND THE ISSUER WHICH IS SERVICING THE APPLICABLE CREDIT CARD ACCOUNT OR RELATED REWARDS PROGRAM, SUBJECT TO THE AVAIL- ABILITY OF REWARDS. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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.