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]

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.

Tracking Information

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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

DateChamberAction
2011-05-12Assemblyenacting clause stricken
2011-01-05Assemblyreferred to consumer affairs and protection

New York State Sources


Bill Comments

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