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NY A07167
Bill
Status
11/25/2024
Primary Sponsor
Michaelle Solages
Click for details
AI Summary
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Amends Personal Property Law Section 337 to prohibit retail lease agreements from including provisions that charge a turn-in fee solely for administrative, handling, or clerical charges at lease expiration.
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Adds this prohibition as a new paragraph (j) to existing restrictions on lease agreement provisions, joining prohibitions against jury waiver clauses and restrictions on early termination rights.
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Effective January 1st following enactment and applies to all leases executed on or after the effective date.
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
signed chap.538
11/25/2024