Assembly Bill A4218A

2015-2016 Legislative Session

Establishes the "vehicle lienholder accountability act"

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee

  • 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

Bill Amendments

co-Sponsors

multi-Sponsors

2015-A4218 - Details

See Senate Version of this Bill:
S6538
Current Committee:
Assembly Transportation
Law Section:
Vehicle and Traffic Law
Laws Affected:
Amd §2120, V & T L
Versions Introduced in Other Legislative Sessions:
2009-2010: A10863
2011-2012: A2094
2013-2014: A3649
2017-2018: A3357, S1486
2019-2020: A3903

2015-A4218 - 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.

2015-A4218 - Bill Text download pdf 

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

                                  4218

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 29, 2015
                               ___________

Introduced  by  M.  of  A. DenDEKKER, MILLER, ABINANTI, WEPRIN -- Multi-
  Sponsored by -- M. of A.  BRENNAN, HOOPER, PERRY, RAIA  --  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

co-Sponsors

multi-Sponsors

2015-A4218A (ACTIVE) - Details

See Senate Version of this Bill:
S6538
Current Committee:
Assembly Transportation
Law Section:
Vehicle and Traffic Law
Laws Affected:
Amd §2120, V & T L
Versions Introduced in Other Legislative Sessions:
2009-2010: A10863
2011-2012: A2094
2013-2014: A3649
2017-2018: A3357, S1486
2019-2020: A3903

2015-A4218A (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.

2015-A4218A (ACTIVE) - Bill Text download pdf 

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

                                 4218--A

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 29, 2015
                               ___________

Introduced  by  M.  of  A. DenDEKKER, MILLER, ABINANTI, WEPRIN -- Multi-
  Sponsored by -- M.  of A. BRENNAN, HOOPER, PERRY, RAIA  --  read  once
  and  referred to the Committee on Transportation -- recommitted to the
  Committee on Transportation in accordance with Assembly Rule 3, sec. 2
  -- committee discharged, bill amended, ordered  reprinted  as  amended
  and recommitted to said committee

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, IN
WRITING, 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 securi-
ty  interest  and  the  lienholder remains liable for any obligations as
lienholder 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.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07971-03-6

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.