Bill Text: NY A00466 | 2013-2014 | General Assembly | Introduced

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Bill Title: 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.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2014-02-06 - advanced to third reading cal.428 [A00466 Detail]

Download: New_York-2013-A00466-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                          466
                              2013-2014 Regular Sessions
                                 I N  A S S E M B L Y
                                      (PREFILED)
                                    January 9, 2013
                                      ___________
       Introduced  by  M.  of  A.  ENGLEBRIGHT -- 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    S 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.
                                                                  LBD05385-01-3