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NY S00488
Bill
Status
1/7/2015
Primary Sponsor
Kenneth LaValle
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AI Summary
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Amends New York's Personal Property Law to prohibit certain provisions in retail lease agreements, specifically targeting motor vehicle leases
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Adds a new prohibition against turn-in fees that solely constitute additional charges for administrative, handling, or clerical services at lease expiration
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Modifies existing restrictions on lease provisions including jury trial waivers and early termination limitations
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Becomes effective January 1st of the year following enactment and applies only to leases executed on or after that date
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Referred to the Senate Committee on Consumer Protection
Legislative Description
Provides that with respect to leases on motor vehicles, no lease shall provide that the lessee would be charged a turn-in fee at the expiration of the term which constitutes solely an additional fee for administrative, handling or clerical charges.
Last Action
COMMITTED TO RULES
6/17/2016