|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 04, 2012||referred to judiciary|
|Jan 05, 2011||referred to judiciary|
senate Bill S963
Archive: Last Bill Status - In Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S963 - Details
S963 - Summary
Deems goods to be on sale or return as to creditor claims when goods delivered to person dealing in goods of the kind involved.
S963 - Sponsor Memo
BILL NUMBER: S963 TITLE OF BILL : An act to amend the uniform commercial code, in relation to deeming goods to be on sale or return as to creditor claims when goods delivered to person dealing in goods of the kind involved PURPOSE : This bill deems goods to be on sale or return as to creditor claims when goods delivered to person dealing in goods of the kind involved. SUMMARY OF PROVISIONS : The section heading and subsection 2 of section 2-236 of the uniform commercial code, as amended by chapter 84 of the laws of 2001, are amended and new subsection 4 is added. JUSTIFICATION : In 2001, the New York State Legislature enacted laws changing the uniform commercial code (UCC) that were pursuant to federal recommendations. However, there have been adverse and unintentional effects on individuals throughout the state. Persons who have brought items to auctioneers or consignment shops have had their belongings sold at auction to payoff debt incurred by the auction/consignment company. The individual never receives any money from the items they brought to the shop. The money made from the resulting auction has
S963 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ S. 963 A. 690 2011-2012 Regular Sessions S E N A T E - A S S E M B L Y (PREFILED) January 5, 2011 ___________ IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print- ed, and when printed to be committed to the Committee on Judiciary IN ASSEMBLY -- Introduced by M. of A. THIELE -- read once and referred to the Committee on Consumer Affairs and Protection AN ACT to amend the uniform commercial code, in relation to deeming goods to be on sale or return as to creditor claims when goods deliv- ered to person dealing in goods of the kind involved THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The section heading and subsection 2 of section 2-326 of the uniform commercial code, as amended by chapter 84 of the laws of 2001, are amended and a new subsection 4 is added to read as follows: Sale on Approval and Sale or Return; CONSIGNMENT SALES AND Rights of Creditors. (2) [Goods] EXCEPT AS PROVIDED IN SUBSECTION (4), GOODS held on approval are not subject to the claims of the buyer's creditors until acceptance; goods held on sale or return are subject to such claims while in the buyer's possession. (4) WHERE GOODS ARE DELIVERED TO A PERSON FOR SALE AND SUCH PERSON MAINTAINS A PLACE OF BUSINESS AT WHICH HE DEALS IN GOODS OF THE KIND INVOLVED, UNDER A NAME OTHER THAN THE NAME OF THE PERSON MAKING DELIV- ERY, THEN WITH RESPECT TO CLAIMS OF CREDITORS OF THE PERSON CONDUCTING THE BUSINESS THE GOODS ARE DEEMED TO BE ON SALE OR RETURN. THE PROVISIONS OF THIS SUBSECTION ARE APPLICABLE EVEN THOUGH AN AGREEMENT PURPORTS TO RESERVE TITLE TO THE PERSON MAKING DELIVERY UNTIL PAYMENT OR RESALE OR USES SUCH WORDS AS "ON CONSIGNMENT" OR "ON MEMORANDUM". HOWEV- ER, THIS SUBSECTION IS NOT APPLICABLE IF THE PERSON MAKING DELIVERY (A) COMPLIES WITH AN APPLICABLE LAW PROVIDING FOR A CONSIGNOR'S INTER- EST OR THE LIKE TO BE EVIDENCED BY A SIGN, OR EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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