Bill Text: NY S05859 | 2019-2020 | General Assembly | Introduced

New York Senate Bill 5859 (Prior Session Legislation)

NOTE: There are more recent revisions of this legislation. Read Latest Draft

Bill Title: Relates to the disclosure of liability of a motor vehicle lessee in the case of a total loss or the vehicle is rendered inoperable; requires disclosure of lessor policies in the case of a total loss or vehicle rendered inoperable.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2019-12-06 - SIGNED CHAP.607 [S05859 Detail]

Download: New_York-2019-S05859-Introduced.html




                STATE OF NEW YORK
        ________________________________________________________________________

                                          5859

                               2019-2020 Regular Sessions

                    IN SENATE

                                      May 15, 2019
                                       ___________

        Introduced  by  Sen.  THOMAS -- read twice and ordered printed, and when
          printed to be committed to the Committee on Consumer Protection

        AN ACT to amend the personal property law, in relation to the disclosure
          of liability of a motor vehicle lessee in the case of a total loss  or
          the vehicle is rendered inoperable

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Subdivision 5 of section 337 of the personal  property  law
     2  is amended by adding a new paragraph (l) to read as follows:
     3    (l)  The  liability  of  the lessee in the case of a total loss of the
     4  vehicle or the vehicle is rendered inoperable.  Discloser  of  liability
     5  pursuant  to this paragraph shall include the financial liability of the
     6  lessee and the lessor's rules, policies and procedures in the event  the
     7  car  is  declared a total loss or rendered inoperable during the term of
     8  the lease.
     9    § 2. This act shall take effect immediately.






         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10318-01-9