NY S00195

Adds a definition of "co-signer" to General Business Law Section 600 to include natural persons who become obligated on a consumer credit transaction or account as a co-signer, co-maker, guarantor, endorser, or surety without receiving the underlying property, services, or money.

Requires principal creditors or their agents to send a delinquency notice to the debtor's last known address when an account becomes delinquent.

Mandates that a copy of the delinquency notice also be sent to the co-signer of the account.

Takes effect on January 1st following the date the bill becomes law.