Provides that with respect to lease 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.
STATE OF NEW YORK
________________________________________________________________________
S. 1599 A. 1581
2011-2012 Regular Sessions
SENATE - ASSEMBLY
January 10, 2011
___________
IN SENATE -- Introduced by Sens. LAVALLE, MAZIARZ, RANZENHOFER, SEWARD
-- read twice and ordered printed, and when printed to be committed to
the Committee on Consumer Protection
IN ASSEMBLY -- Introduced by M. of A. ENGLEBRIGHT -- Multi-Sponsored by
-- M. of A. PHEFFER -- 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:
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.
LBD04918-01-1
