Senate Bill S2672

2025-2026 Legislative Session

Increases the notice of cancellation requirements for automobile broker businesses

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Rules 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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2025-S2672 (ACTIVE) - Details

See Assembly Version of this Bill:
A441
Current Committee:
Senate Rules
Law Section:
General Business Law
Laws Affected:
Amd §§738 & 741-a, Gen Bus L (as proposed in S.7553-A & A.3499-B)

2025-S2672 (ACTIVE) - Summary

Increases the notice of cancellation requirements for automobile broker businesses.

2025-S2672 (ACTIVE) - Sponsor Memo

2025-S2672 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2672
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                             January 22, 2025
                                ___________
 
 Introduced  by  Sen.  MAY  --  read  twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 AN ACT to amend the general business law, in relation to increasing  the
   notice of cancellation requirements for automobile broker businesses
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision 2 of section 738 of the general  business  law,
 as  added  by  chapter 616 of the laws of 1988, the opening paragraph as
 amended by a chapter of the laws of 2024 amending the  general  business
 law  and the vehicle and traffic law relating to automobile broker busi-
 nesses, as proposed in  legislative  bills  numbers  S.  7553-A  and  A.
 3499-B, is amended to read as follows:
   2. The contract shall be accompanied by a completed form in duplicate,
 captioned  "Notice  of  Cancellation"  which  shall  be  attached to the
 contract and easily detachable, and which  shall  contain  in  at  least
 twelve point type the following:
 
                         "Notice of Cancellation"
     "You  may  cancel  this contract, without any penalty or obligation,
 within three days from the date that a copy of an executed  contract  is
 received by you OR UNTIL THE AUTOMOBILE DESCRIBED IN SECTION ( ) OF THIS
 CONTRACT  HAS  BEEN DELIVERED TO YOU, WHICHEVER IS SOONER, PROVIDED THAT
 IF THE AUTOMOBILE IS NOT  DELIVERED  TO  YOU  IN  ACCORDANCE  WITH  THIS
 CONTRACT  WITHIN  THIRTY  DAYS  OF  THE ESTIMATED DELIVERY DATE, YOU MAY
 CANCEL THIS CONTRACT AND RECEIVE A FULL  REFUND,  UNLESS  THE  DELAY  IN
 DELIVERY  IS  ATTRIBUTABLE  TO  YOU.  ADDITIONALLY,  YOU MAY CANCEL THIS
 CONTRACT, WITHOUT ANY PENALTY OR OBLIGATION, FOR OTHER GROUNDS UNDER NEW
 YORK STATE LAW, INCLUDING BUT NOT LIMITED TO THE  RIGHTS  ENUMERATED  IN
 SECTION 738 OF THE NEW YORK STATE GENERAL BUSINESS LAW.
     To cancel this  contract,  mail or  deliver a  signed and dated copy
 of this cancellation notice, or any other written notice, to
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02685-01-5

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