Bill Text: NY S05859 | 2019-2020 | General Assembly | Amended
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--B 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 -- 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, and shall apply to all 10 leases entered into, renewed, modified or amended on and after such 11 effective date. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD10318-05-9