S04778 Summary:
BILL NO | S04778 |
  | |
SAME AS | SAME AS A07167 |
  | |
SPONSOR | SANDERS |
  | |
COSPNSR | |
  | |
MLTSPNSR | |
  | |
Amd §337, Pers Prop L | |
  | |
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. |
S04778 Text:
Go to top STATE OF NEW YORK ________________________________________________________________________ 4778 2023-2024 Regular Sessions IN SENATE 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: 1 Section 1. Paragraphs (h) and (i) of subdivision 14 of section 337 of 2 the personal property law, paragraph (h) as added by chapter 1 of the 3 laws of 1994 and paragraph (i) as amended by chapter 111 of the laws of 4 1995, are amended and a new paragraph (j) is added to read as follows: 5 (h) the lessee waives any right to a trial by jury in any action or 6 proceeding arising out of the agreement; [or] 7 (i) a lessee who is not in default of his or her obligations under the 8 agreement would be prohibited from terminating the agreement at any time 9 after the expiration of the first fifty percent of the total number of 10 months of the lease term. The exercise of this right to terminate early 11 voluntarily is contingent upon the lessee discharging fully his or her 12 liability under the early termination provisions of the agreement[.]; or 13 (j) the lessee would be charged a turn-in fee at the expiration of the 14 term which constitutes solely an additional fee for administrative, 15 handling or clerical charges. 16 § 2. This act shall take effect on the first of January next succeed- 17 ing the date on which it shall have become a law and shall apply to 18 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