Assembly Bill A2094

2011-2012 Legislative Session

Establishes the "vehicle lienholder accountability act"

download bill text pdf

Sponsored By

Archive: Last Bill Status - On Floor Calendar


  • 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

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

co-Sponsors

multi-Sponsors

2011-A2094 (ACTIVE) - Details

See Senate Version of this Bill:
S3302
Law Section:
Vehicle and Traffic Law
Laws Affected:
Amd §2120, V & T L
Versions Introduced in Other Legislative Sessions:
2009-2010: A10863, S7831
2013-2014: A3649
2015-2016: A4218
2017-2018: A3357
2019-2020: A3903

2011-A2094 (ACTIVE) - Summary

Establishes the "vehicle lienholder accountability act"; requires lienholders to provide notice to the owner of the vehicle when such lienholder assigns his or her security interest and requires such lienholder to execute a release of his or her security interest, within ten days of such assignment.

2011-A2094 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  2094

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            January 13, 2011
                               ___________

Introduced  by  M.  of  A.  DenDEKKER  --  read once and referred to the
  Committee on Transportation

AN ACT to amend the vehicle and traffic law, in relation to establishing
  the "vehicle lienholder accountability act"; to require lienholders to
  provide notice to the  owner  of  the  vehicle  when  such  lienholder
  assigns his or her security interest

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. This act shall be known and may be cited  as  the  "vehicle
lienholder accountability act".
  S  2. Section 2120 of the vehicle and traffic law, as added by chapter
1134 of the laws of 1971, is amended to read as follows:
  S 2120. Assignment by lienholder. (a) A lienholder may  assign,  abso-
lutely  or  otherwise,  his OR HER security interest in the vehicle to a
person other than the owner without affecting the interest of the  owner
or  the  validity of the security interest, [but any] PROVIDED THAT SUCH
LIENHOLDER NOTIFIES THE OWNER OF THE VEHICLE  OF  SUCH  ASSIGNMENT,  AND
EXECUTES  A  RELEASE  OF HIS OR HER SECURITY INTEREST WITHIN TEN DAYS OF
SUCH  ASSIGNMENT.  ANY  person  without  notice  of  the  assignment  is
protected  in  dealing with the lienholder as the holder of the security
interest and the lienholder remains liable for any obligations as  lien-
holder until the assignee is named as lienholder on the certificate.
  (b) The assignee may, but need not to perfect the assignment, have the
certificate of title endorsed or issued with the assignee named as lien-
holder,  upon  delivering to the commissioner an assignment by the lien-
holder named in the certificate in the form the commissioner prescribes.
Upon the request of the assignee  the  commissioner  shall  request  the
owner to deliver to the commissioner the certificate of title.
  (C) A LIENHOLDER WHO VIOLATES THE PROVISIONS OF THIS SECTION SHALL PAY
A CIVIL PENALTY NOT TO EXCEED ONE THOUSAND DOLLARS.
  S  3.  This  act shall take effect on the thirtieth day after it shall
have become a law.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
              

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.