Assembly Bill A3461

2009-2010 Legislative Session

Provides for a minimum 15 day grace period before a late fee may be charged a credit card holder unless there is local, on-line or telephone access available

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee

  • 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

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2009-A3461 (ACTIVE) - Details

Current Committee:
Assembly Consumer Affairs And Protection
Law Section:
General Business Law
Laws Affected:
Add ยง518-b, Gen Bus L
Versions Introduced in Other Legislative Sessions:
2011-2012: A3004
2013-2014: A3423
2015-2016: A5126
2017-2018: A424

2009-A3461 (ACTIVE) - Summary

Provides for a minimum 10 day grace period before a late fee may be charged a credit card holder unless the credit card or finance company provides a local payment facility within the county of the debtor or access to on-line or telephone payment centers for the receipt of payments.

2009-A3461 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  3461

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            January 27, 2009
                               ___________

Introduced  by  M. of A. PERRY -- Multi-Sponsored by -- M. of A. ALFANO,
  CAHILL, COLTON, COOK, HEASTIE, HOOPER, MENG, PERALTA,  TOWNS  --  read
  once and referred to the Committee on Consumer Affairs and Protection

AN  ACT  to  amend  the general business law, in relation to providing a
  grace period for the imposition of late fees for credit card bills

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The general business law is amended by adding a new section
518-b to read as follows:
  S  518-B.  CREDIT CARD ACCOUNT LATE FEES; FIFTEEN DAY GRACE PERIOD. NO
ISSUER OF A CREDIT CARD DOING BUSINESS IN THIS STATE SHALL CHARGE A LATE
FEE TO THE CREDIT CARD ACCOUNT OF ANY PERSON WHO FAILS TO TIMELY MAKE  A
PAYMENT ON SUCH CREDIT CARD ACCOUNT, UNTIL AT LEAST FIFTEEN DAYS FOLLOW-
ING THE DATE THAT SUCH PAYMENT WAS DUE.
  S  2.  This  act shall take effect on the thirtieth day after it shall
have become a law.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01911-01-9

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