New York State Assembly

Bill No.:  

 
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A11353 Summary:

BILL NO	A11353
SAME AS	No Same As
SPONSOR	Rules (Simotas)
COSPNSR
MLTSPNSR
Add §5-1117, Gen Ob L
Requires independent consideration for each confidentiality provision in a settlement agreement.

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A11353 Actions:

BILL NO	A11353
09/19/2018	referred to judiciary

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A11353 Committee Votes:

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A11353 Floor Votes:

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A11353 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          11353
 
                   IN ASSEMBLY
 
                                   September 19, 2018
                                       ___________
 
        Introduced  by COMMITTEE ON RULES -- (at request of M. of A. Simotas) --
          read once and referred to the Committee on Judiciary
 
        AN ACT to amend the general obligations law, in relation to  independent
          consideration required for certain provisions in settlement agreements
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. The general obligations law is  amended  by  adding  a  new
     2  section 5-1117 to read as follows:
     3    §  5-1117.  Independent  consideration  required for settlement agree-
     4  ments. Independent consideration shall be required  for  each  confiden-
     5  tiality  provision  included in a settlement agreement. For the purposes
     6  of this section, "independent consideration"  shall  mean  something  of
     7  value, either a promise, an act or an object that is offered in exchange
     8  for each confidentiality provision.
     9    § 2. This act shall take effect immediately.
 
 
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13925-01-7

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