NY A00942 | 2011-2012 | General Assembly
Status
Spectrum: Partisan Bill (Democrat 13-0)
Status: Introduced on January 5 2011 - 25% progression, died in chamber
Action: 2011-05-12 - enacting clause stricken
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 5 2011 - 25% progression, died in chamber
Action: 2011-05-12 - enacting clause stricken
Text: Latest bill text (Introduced) [HTML]
Summary
Conforms state law to recent federal changes pertaining to motor vehicle retail leasing to enhance consumer protection; provides for additional disclosures regarding terms and conditions, fees, etc.; provides for a three day cooling off period for leases and for the purchase of new and used vehicles; discourages leasing companies from charging termination fees by allowing those lessors who do not charge such a fee to dispose of the vehicle immediately after coming to a mutually agreed upon final payment by the consumer; waives the requirement that a lessor retain the vehicle in order to give the consumer an opportunity to dispute excessive wear and use charges.
Title
Conforms state law to recent federal changes pertaining to motor vehicle retail leasing to enhance consumer protection; provides for additional disclosures regarding terms and conditions, fees, etc.; provides for a three day cooling off period for leases and for the purchase of new and used vehicles; discourages leasing companies from charging termination fees by allowing those lessors who do not charge such a fee to dispose of the vehicle immediately after coming to a mutually agreed upon final payment by the consumer; waives the requirement that a lessor retain the vehicle in order to give the consumer an opportunity to dispute excessive wear and use charges.
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2011-05-12 | Assembly | enacting clause stricken |
| 2011-01-05 | Assembly | referred to consumer affairs and protection |
