Senate Bill S4778

2023-2024 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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Current Bill Status Via A7167 - Delivered to Governor

  • 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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2023-S4778 (ACTIVE) - Details

See Assembly Version of this Bill:
A7167
Law Section:
Personal Property Law
Laws Affected:
Amd §337, Pers Prop L
Versions Introduced in Other Legislative Sessions:
2009-2010: S1396, A2904
2011-2012: S1599, A1581
2013-2014: S3573, A466
2015-2016: S488, A2512
2017-2018: S2988, A2337
2019-2020: S5921, A3345
2021-2022: S3236, A5551

2023-S4778 (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.

2023-S4778 (ACTIVE) - Sponsor Memo

2023-S4778 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4778
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             February 14, 2023
                                ___________
 
 Introduced  by  Sen. SANDERS -- read twice and ordered printed, and when
   printed to be committed to the Committee on Consumer Protection
 
 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.
                                                            LBD09516-01-3

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