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NY S04778

Bill

Official Source

Status

Introduced

2/14/2023

Primary Sponsor

James Sanders

Click for details

Origin

Senate

2023-2024 General Assembly

AI Summary

  • Amends Personal Property Law Section 337 to prohibit retail lease agreements from charging a turn-in fee at lease expiration that constitutes solely an additional fee for administrative, handling, or clerical charges
  • Adds this prohibition as a new paragraph (j) to the existing list of prohibited lease provisions, alongside restrictions on jury trial waivers and early termination limitations
  • Applies to all leases executed on or after January 1 of the year following the law's enactment
  • Builds on existing 1994 and 1995 amendments that already restricted certain lease agreement terms

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

SUBSTITUTED BY A7167

6/6/2024

Committee Referrals

Consumer Affairs and Protection2/14/2023

Full Bill Text

No bill text available