Bill Text: NY A11353 | 2017-2018 | General Assembly | Introduced

Bill Title: Requires independent consideration for each confidentiality provision in a settlement agreement.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2018-09-19 - referred to judiciary [A11353 Detail]

Download: New_York-2017-A11353-Introduced.html

                STATE OF NEW YORK
                   IN ASSEMBLY
                                   September 19, 2018
        Introduced  by COMMITTEE ON RULES -- (at request of M. of A. Simotas) --
          read once and referred to the Committee on Judiciary
        AN ACT to amend the general obligations law, in relation to  independent
          consideration required for certain provisions in settlement agreements
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. The general obligations law is  amended  by  adding  a  new
     2  section 5-1117 to read as follows:
     3    §  5-1117.  Independent  consideration  required for settlement agree-
     4  ments. Independent consideration shall be required  for  each  confiden-
     5  tiality  provision  included in a settlement agreement. For the purposes
     6  of this section, "independent consideration"  shall  mean  something  of
     7  value, either a promise, an act or an object that is offered in exchange
     8  for each confidentiality provision.
     9    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.