NY S09876

Amends Vehicle and Traffic Law Section 425 to define "collateral," "repossessor," and "repossession is complete" for purposes of repossession procedures.

Repossession is considered complete when the repossessor gains entry to the vehicle, connects it to a tow truck, moves the entire vehicle, or gains control of it.

Establishes a new prohibition making it illegal for any person to interfere with the transport of collateral to a storage facility, auction, or dealer once repossession is complete.

Violations of the interference prohibition are punishable by a fine not exceeding $250.

Takes effect 180 days after becoming law.