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NY A09463
Bill
Status
Engrossed
5/20/2024
Primary Sponsor
Kenneth Zebrowski
Click for details
AI Summary
- Amends the Financial Services Law by adding new section 813 to address commercial financing liability provisions
- Prohibits imposing liability on providers when actual annual percentage rates differ from estimated rates disclosed in good faith
- Applies only to providers acting in conformity with Financial Services Law requirements and Department regulations
- Takes effect immediately upon enactment
Legislative Description
Relates to the application of certain provisions relating to commercial financing; provides that liability shall not be imposed on a provider if the actual annual percentage rate charged by the provider differs from the estimated annual percentage rate disclosed by the provider acting in good faith.
Last Action
COMMITTED TO RULES
6/7/2024
Committee Referrals
Rules6/7/2024
Banks5/20/2024
Rules5/14/2024
Codes5/7/2024
Banks3/14/2024
Full Bill Text
No bill text available