STATE OF NEW YORK ________________________________________________________________________ 11353 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. LBD13925-01-7