S T A T E O F N E W Y O R K
________________________________________________________________________
4862
2011-2012 Regular Sessions
I N A S S E M B L Y
February 8, 2011
___________
Introduced by M. of A. BUTLER -- read once and referred to the Committee
on Consumer Affairs and Protection
AN ACT to amend the personal property law, in relation to requiring
vehicle retail lease agreements charging for excess wear to itemize
the components examined to make such determination
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. The opening paragraph of subdivision 2 of section 343 of
the personal property law, as amended by chapter 111 of the laws of
1995, is amended to read as follows:
In order for a holder to impose a charge for excess wear and damage to
a vehicle subject to a retail lease agreement, [such agreement shall
contain a clause describing the excess wear and damage to the vehicle
for which the lessee may be liable] SUCH HOLDER MUST PROVIDE THE LESSEE
WITH A WRITTEN STATEMENT DESCRIBING THE EXCESS WEAR AND DAMAGE TO THE
VEHICLE FOR WHICH THE LESSEE MAY BE LIABLE. THIS STATEMENT MUST CONTAIN
A PROVISION SPECIFICALLY ITEMIZING ALL COMPONENTS OF THE VEHICLE TO BE
EXAMINED AND THE METHOD USED TO EXAMINE THE VEHICLE BEFORE ARRIVING AT
THE FINAL EXCESSIVE WEAR AND DAMAGE CHARGE. THIS INFORMATION MUST BE
PROVIDED TO THE CONSUMER PRIOR TO THE SIGNING OF THE LEASE AGREEMENT.
Such holder shall, not more than forty days nor less than twenty days
prior to the scheduled termination date, or, not more than ten business
days after the date of an early termination of a lease agreement, mail
or deliver to the lessee a notice advising the lessee of the following
rights and obligations of the parties, herein granted and imposed:
S 2. This act shall take effect September 1, 2011 and shall apply to
all retail leases entered into on and after such date.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD08433-01-1