senate Bill S963

2011-2012 Legislative Session

Deems goods to be on sale or return as to creditor claims when goods delivered to person dealing in goods of the kind involved

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 04, 2012 referred to judiciary
Jan 05, 2011 referred to judiciary

S963 - Details

See Assembly Version of this Bill:
A690
Law Section:
Uniform Commercial Code
Laws Affected:
Amd ยง2-326, UCC
Versions Introduced in 2009-2010 Legislative Session:
S636, A1755

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

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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