Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jul 30, 2010 |
signed chap.254 |
Jul 19, 2010 |
delivered to governor |
Jun 22, 2010 |
returned to assembly passed senate |
Jun 18, 2010 |
3rd reading cal.951 substituted for s7300a |
Jun 17, 2010 |
referred to rules delivered to senate passed assembly ordered to third reading rules cal.217 rules report cal.217 reported |
Jun 16, 2010 |
reported referred to rules |
Apr 28, 2010 |
print number 10000a |
Apr 28, 2010 |
amend and recommit to codes |
Apr 27, 2010 |
reported referred to codes |
Feb 24, 2010 |
referred to consumer affairs and protection |
Assembly Bill A10000
Signed By Governor2009-2010 Legislative Session
Sponsored By
PHEFFER
Archive: Last Bill Status - Signed by Governor
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
Bill Amendments
2009-A10000 - Details
- See Senate Version of this Bill:
- S7300
- Law Section:
- General Business Law
- Laws Affected:
- Add §198-c, Gen Bus L; amd §415, V & T L
2009-A10000 - Summary
Requires an automobile dealer to pay a specified amount on the prior credit or lease balance owing on the vehicle purchased or obtained in trade to the lessor, or to the legal owner of the vehicle purchased or obtained in trade within twenty-one calendar days of purchasing or obtaining the vehicle in trade.
2009-A10000 - Sponsor Memo
BILL NUMBER:A10000 TITLE OF BILL: An act to amend the general business law and the vehicle and traffic law, in relation to requiring an automobile dealer to pay a specified amount on the prior credit or lease balance owing on the vehi- cle purchased or obtained in trade to the lessor, or to the legal owner of the vehicle purchased or obtained in trade within twenty-one calendar days of purchasing or obtaining the vehicle in trade Purpose Or General Idea Of Bill: The purpose of this bill is to provide enhanced protection for motor vehicle buyers by requiring motor vehicle dealers that agree to pay off the prior credit or lease balance owing on a vehicle obtained in trade to do so in a timely manner. Summary Of Specific Provisions: This bill would: >provide that when a motor vehicle dealer purchases or obtains a vehicle in trade in a retail sale or lease transaction and the dealer agreed to pay the prior credit or lease balance owing on the vehicle purchased or obtained in trade the dealer shall tender the agreed upon amount to the lessor or legal owner of the vehicle purchased or obtained in trade within twenty-one calendar days of purchasing or obtaining the vehicle in trade; >prohibit a dealer from selling or transferring any ownership interest in the vehicle purchased or obtained in trade until an amount necessary
2009-A10000 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 10000 I N A S S E M B L Y February 24, 2010 ___________ Introduced by M. of A. PHEFFER -- read once and referred to the Commit- tee on Consumer Affairs and Protection AN ACT to amend the general business law and the vehicle and traffic law, in relation to requiring an automobile dealer to pay a specified amount on the prior credit or lease balance owing on the vehicle purchased or obtained in trade to the lessor, or to the legal owner of the vehicle purchased or obtained in trade within twenty-one calendar days of purchasing or obtaining the vehicle in trade THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Legislative findings. When consumers choose to purchase vehicles from motor vehicle dealers that are licensed by the department of motor vehicles, they have a reasonable expectation that the dealers have sufficient resources to honor their contractual commitments. Motor vehicle buyers have no reliable way to know in advance whether a motor vehicle dealer is on the brink of insolvency or is on a sound financial footing. When licensed motor vehicle dealers go out of business they often fail to pay off liens on vehicles purchased or obtained in trade, as agreed. When this happens, the lien often reverts to the consumer who traded in the vehicle. As the consumer has likely not budgeted for this extra car payment, the result is often ruinous consequences, including harm to their credit, repossessions that remain on their credit reports for seven to ten years, job losses due to a lack of transportation, home foreclosures, and bankruptcy. Such consequences are brought about through no fault of the consumer. Honest dealers are also adversely impacted when unscrupulous motor vehicle dealers siphon off business and then harm the credit of their customers by going out of business without paying liens, as promised, shrinking the automotive market at precisely the time when it is sound public policy to expand the market and accelerate sales of newer, safer, cleaner motor vehicles. S 2. The general business law is amended by adding a new section 198-c to read as follows: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
2009-A10000A (ACTIVE) - Details
- See Senate Version of this Bill:
- S7300
- Law Section:
- General Business Law
- Laws Affected:
- Add §198-c, Gen Bus L; amd §415, V & T L
2009-A10000A (ACTIVE) - Summary
Requires an automobile dealer to pay a specified amount on the prior credit or lease balance owing on the vehicle purchased or obtained in trade to the lessor, or to the legal owner of the vehicle purchased or obtained in trade within twenty-one calendar days of purchasing or obtaining the vehicle in trade.
2009-A10000A (ACTIVE) - Sponsor Memo
BILL NUMBER:A10000A TITLE OF BILL: An act to amend the general business law and the vehicle and traffic law, in relation to requiring an automobile dealer to pay a specified amount on the prior credit or lease balance owing on the vehi- cle purchased or obtained in trade to the lessor, or to the legal owner of the vehicle purchased or obtained in trade within twenty-one calendar days of purchasing or obtaining the vehicle in trade PURPOSE OR GENERAL IDEA of BILL: The purpose of this bill is to provide enhanced protection for motor vehicle buyers by requiring motor vehicle dealers that agree to pay off the prior credit or lease balance owing on a vehicle obtained in trade to do so in a timely manner. SUMMARY OF SPECIFIC PROVISIONS: This bill would: > provide that when a motor vehicle dealer purchases or obtains a vehi- cle in trade in a retail sale or lease transaction and the dealer agreed to pay the prior credit or lease balance owing on the vehicle purchased or obtained in trade the dealer shall tender the agreed upon amount to the lessor or legal owner of the vehicle purchased or obtained in trade within twenty-one calendar days of purchasing or obtaining the vehicle in trade; > prohibit a dealer from selling or transferring any ownership interest in the vehicle purchased or obtained in trade until an amount necessary
2009-A10000A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 10000--A I N A S S E M B L Y February 24, 2010 ___________ Introduced by M. of A. PHEFFER -- read once and referred to the Commit- tee on Consumer Affairs and Protection -- reported and referred to the Committee on Codes -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the general business law and the vehicle and traffic law, in relation to requiring an automobile dealer to pay a specified amount on the prior credit or lease balance owing on the vehicle purchased or obtained in trade to the lessor, or to the legal owner of the vehicle purchased or obtained in trade within twenty-one calendar days of purchasing or obtaining the vehicle in trade THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Legislative findings. When consumers choose to purchase vehicles from motor vehicle dealers that are licensed by the department of motor vehicles, they have a reasonable expectation that the dealers have sufficient resources to honor their contractual commitments. Motor vehicle buyers have no reliable way to know in advance whether a motor vehicle dealer is on the brink of insolvency or is on a sound financial footing. When licensed motor vehicle dealers go out of business they occa- sionally fail to pay off liens on vehicles purchased or obtained in trade, as agreed. When this happens, the obligation often reverts to the consumer who traded in the vehicle. As the consumer has likely not budg- eted for this extra car payment, the result can be ruinous, including harm to their credit, repossessions that remain on their credit reports for seven to ten years, home foreclosures, and bankruptcy. Such conse- quences are brought about through no fault of the consumer. Honest dealers are also adversely impacted when unscrupulous motor vehicle dealers siphon off business and then harm the credit of their customers by going out of business without paying liens, as promised, shrinking the automotive market at precisely the time when it is sound public policy to expand the market and accelerate sales of newer, safer, cleaner motor vehicles. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD15374-11-0
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