Do you support this bill?

Senate Bill S4683

2009-2010 Legislative Session

Extends the cancellation period for a gas or oil lease from 3 days to 5 days

download bill text pdf

Sponsored By

Archive: Last Bill Status - On Floor Calendar

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

Votes

2009-S4683 (ACTIVE) - Details

See Assembly Version of this Bill:
A2370
Law Section:
General Obligations Law
Laws Affected:
Amd ยง5-333, Gen Ob L
Versions Introduced in 2011-2012 Legislative Session:
S750, A6211

2009-S4683 (ACTIVE) - Summary

Extends the cancellation period for a gas or oil lease from 3 days to 5 days.

2009-S4683 (ACTIVE) - Sponsor Memo

2009-S4683 (ACTIVE) - Bill Text download pdf 

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

                                  4683

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             April 27, 2009
                               ___________

Introduced  by  Sen.  YOUNG  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Judiciary

AN ACT to amend the general obligations law, in  relation  to  extending
  from  3  days  to  5  days the period to cancel a lease of oil and gas
  rights

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

  Section  1.  Subdivision 5 of section 5-333 of the general obligations
law, as added by chapter 386 of the laws of 2005, is amended to read  as
follows:
  5.  On  or after January first, two thousand six, any oil or gas lease
shall contain the following statement printed in at least ten point bold
type:
  THIS IS A LEASE OF OIL AND GAS RIGHTS, NOT A  SALE,  CONTAINING  TERMS
THAT  MAY  BE NEGOTIATED BY YOU. YOU HAVE THE RIGHT TO CANCEL THIS LEASE
WITHIN [THREE] FIVE BUSINESS DAYS AFTER EXECUTION OF THE LEASE BY  NOTI-
FYING  THE  LESSEE  THAT  YOU  HAVE  CANCELED THIS CONTRACT. IN ORDER TO
CANCEL THIS LEASE, YOU MUST EXECUTE A NOTICE OF CANCELLATION IN THE FORM
PROVIDED BELOW, MAIL IT TO THE LESSEE AND REFUND ALL AMOUNTS PAID TO YOU
BY THE LESSEE WITHIN THE [THREE-DAY] FIVE-DAY CANCELLATION  PERIOD.  THE
MAILING  MUST BE POSTMARKED WITHIN THE [THREE-DAY] FIVE-DAY CANCELLATION
PERIOD TO BE EFFECTIVE.
                   NOTICE OF CANCELLATION
         I/WE HEREBY CANCEL THIS LEASE.
  DATED:
  SIGNATURE(S):
  THE PERSON PRESENTING THIS LEASE TO YOU IS [ ] NOT [ ] A MEMBER OF
  (name of organization)        AND THEREFORE IS [ ] IS NOT [ ]  SUBJECT
TO  A  CODE  OF  CONDUCT.  IF THE PERSON PRESENTING THIS LEASE TO YOU IS
SUBJECT TO A CODE OF CONDUCT, A COPY OF THE  CODE  OF  CONDUCT  MUST  BE
PRESENTED  TO  YOU  WITH  THIS LEASE. IF APPLICABLE, THE CODE OF CONDUCT

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03140-01-9

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.