Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Feb 09, 2017 |
enacting clause stricken |
Feb 07, 2017 |
referred to consumer affairs and protection |
Assembly Bill A5311
2017-2018 Legislative Session
Sponsored By
DINOWITZ
Archive: Last Bill Status - Stricken
- 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
Actions
2017-A5311 (ACTIVE) - Details
- Law Section:
- Personal Property Law
- Laws Affected:
- Amd §302, Pers Prop L
- Versions Introduced in 2015-2016 Legislative Session:
-
A7930
2017-A5311 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5311 2017-2018 Regular Sessions I N A S S E M B L Y February 7, 2017 ___________ Introduced by M. of A. DINOWITZ -- read once and referred to the Commit- tee on Consumer Affairs and Protection AN ACT to amend the personal property law, in relation to loan assignees THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 9 of section 302 of the personal property law, as amended by chapter 643 of the laws of 1978, is amended to read as follows: 9. (A) No retail instalment contract shall contain any provision by which the buyer agrees not to assert against an assignee a claim or defense arising out of the sale or require or entail the execution of any note or series of notes, which when separately negotiated will cut off as to third parties any right of action or defense which the buyer may have against the seller. The assignee of a retail installment contract or obligation shall be subject to all claims and defenses of the buyer against the seller arising from the sale notwithstanding any agreement to the contrary, but the assignee's liability under this subdivision shall not exceed the amount owing to the assignee at the time the claim or defense is asserted against the assignee. (B) LIMITATIONS ON ASSIGNEE LIABILITY REFERRED TO IN PARAGRAPH (A) OF THIS SUBDIVISION SHALL BE EXCLUSIVE OF ANY REASONABLE COSTS AND ATTOR- NEY'S FEES THE COURT MAY AWARD. § 2. This act shall take effect on the first of January next succeed- ing the date on which it shall have become a law. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD03767-01-7
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.