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S05859 Summary:

S05859 Actions:

S05859 Committee Votes:

S05859 Floor Votes:

S05859 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         5859--B
 
                               2019-2020 Regular Sessions
 
                    IN SENATE
 
                                      May 15, 2019
                                       ___________
 
        Introduced  by  Sen.  THOMAS -- read twice and ordered printed, and when
          printed to be committed to the Committee  on  Consumer  Protection  --
          committee  discharged,  bill amended, ordered reprinted as amended and
          recommitted to said committee -- committee discharged,  bill  amended,
          ordered reprinted as amended and recommitted to said committee

        AN ACT to amend the personal property law, in relation to the disclosure
          of  liability of a motor vehicle lessee in the case of a total loss or
          the vehicle is rendered inoperable
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Subdivision 5 of section 337 of the personal property law
     2  is amended by adding a new paragraph (l) to read as follows:
     3    (l) The liability of the lessee in the case of a  total  loss  of  the
     4  vehicle  or  the vehicle is rendered inoperable. Disclosure of liability
     5  pursuant to this paragraph shall include the financial liability of  the
     6  lessee  and the lessor's rules, policies and procedures in the event the
     7  car is declared a total loss or rendered inoperable during the  term  of
     8  the lease.
     9    §  2.  This  act shall take effect immediately, and shall apply to all
    10  leases entered into, renewed, modified or  amended  on  and  after  such
    11  effective date.
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10318-05-9