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NY S00677
Bill
Status
1/5/2011
Primary Sponsor
Jose Peralta
Click for details
AI Summary
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Establishes a 3-year statute of limitations for consumer credit transaction lawsuits where the defendant is a purchaser, borrower, or debtor
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Requires notice of lawsuit to be mailed to the defendant in consumer credit actions
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Sets specific requirements that complaints in consumer credit actions must meet
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Provides for arbitration as a mechanism for resolving consumer credit disputes
Legislative Description
Enacts the "consumer credit fairness act"; establishes a 3 year statute of limitations for commencement of a cause of action arising out of a consumer credit transaction where the defendant is a purchaser, borrower or debtor; establishes a notice of lawsuit which must be mailed to the defendant in such a cause of action; establishes certain requirements for the complaint in such an action; provides for arbitration of such actions.
Last Action
REFERRED TO CODES
1/5/2011