Assembly Bill A5551

2021-2022 Legislative Session

Prohibits the imposition of certain fees at the expiration of a term on a motor vehicle lease which constitutes administrative, clerical or handling charges

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Sponsored By

Archive: Last Bill Status - In Senate Committee Consumer Protection 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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2021-A5551 (ACTIVE) - Details

See Senate Version of this Bill:
S3236
Current Committee:
Senate Consumer Protection
Law Section:
Personal Property Law
Laws Affected:
Amd §337, Pers Prop L
Versions Introduced in Other Legislative Sessions:
2009-2010: A2904, S1396
2011-2012: A1581, S1599
2013-2014: A466, S3573
2015-2016: A2512, S488
2017-2018: A2337, S2988
2019-2020: A3345, S5921
2023-2024: A7167, S4778

2021-A5551 (ACTIVE) - Summary

Provides that with respect to leases on motor vehicles, no lease shall provide that the lessee would be charged a turn-in fee at the expiration of the term which constitutes solely an additional fee for administrative, handling or clerical charges.

2021-A5551 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5551
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 19, 2021
                                ___________
 
 Introduced  by M. of A. ENGLEBRIGHT, MONTESANO, SOLAGES -- read once and
   referred to the Committee on Judiciary
 
 AN ACT to amend the personal property law, in  relation  to  prohibiting
   certain provisions in retail lease agreements
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraphs (h) and (i) of subdivision 14 of section 337  of
 the  personal  property  law, paragraph (h) as added by chapter 1 of the
 laws of 1994 and paragraph (i) as amended by chapter 111 of the laws  of
 1995, are amended and a new paragraph (j) is added to read as follows:
   (h)  the  lessee  waives any right to a trial by jury in any action or
 proceeding arising out of the agreement; [or]
   (i) a lessee who is not in default of his or her obligations under the
 agreement would be prohibited from terminating the agreement at any time
 after the expiration of the first fifty percent of the total  number  of
 months  of the lease term. The exercise of this right to terminate early
 voluntarily is contingent upon the lessee discharging fully his  or  her
 liability under the early termination provisions of the agreement[.]; OR
   (J) THE LESSEE WOULD BE CHARGED A TURN-IN FEE AT THE EXPIRATION OF THE
 TERM  WHICH  CONSTITUTES  SOLELY  AN  ADDITIONAL FEE FOR ADMINISTRATIVE,
 HANDLING OR CLERICAL CHARGES.
   § 2. This act shall take effect on the first of January next  succeed-
 ing  the  date  on  which  it shall have become a law and shall apply to
 leases executed on or after such date.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05602-01-1

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