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

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-Amended.html



                STATE OF NEW YORK
        ________________________________________________________________________

                                         5859--A

                               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  --
          committee  discharged,  bill amended, ordered reprinted as amended and
          recommitted to said committee

        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. Disclosure  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.
                                                                   LBD10318-03-9
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