Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Sep 23, 2011 |
signed chap.579 |
Sep 12, 2011 |
delivered to governor |
Jun 16, 2011 |
returned to senate passed assembly ordered to third reading rules cal.340 substituted for a7767a referred to consumer affairs and protection delivered to assembly passed senate |
Jun 13, 2011 |
amended on third reading 5477a |
Jun 06, 2011 |
advanced to third reading |
Jun 02, 2011 |
2nd report cal. |
Jun 01, 2011 |
1st report cal.921 |
May 25, 2011 |
referred to consumer protection |
Senate Bill S5477
Signed By Governor2011-2012 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - Signed by Governor
- 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
Actions
Votes
Bill Amendments
co-Sponsors
(D) Senate District
2011-S5477 - Details
- Law Section:
- General Business Law
- Laws Affected:
- Amd §738, add §§740-a, 740-b & 741-a, Gen Bus L
2011-S5477 - Sponsor Memo
BILL NUMBER:S5477 TITLE OF BILL: An act to amend the general business law, in relation to increasing disclosures by automobile broker businesses PURPOSE OR GENERAL IDEA OF BILL: To regulate the practices of automobile broker businesses in New York. SUMMARY OF SPECIFIC PROVISIONS: Section 1 amends §738 of the General Business Law to require an automobile broker business ("broker") to include a disclosure in all contracts regarding the automobile dealer ("dealer") from which the automobile was purchased, as well as any consideration paid by a dealer to a broker for its services. Section 2 amends §740-a and §740-b of the General Business Law to require all brokers to comply with the confidentiality provisions contained in §399-dd of the General Business Law, and to require brokers to obtain a surety bond in the amount of $250,000. Section 3 amends §741-a of the General Business Law to require brokers to comply with the advertising provisions contained in Executive Law §63(12), General Business Law Article 22A, and General Business Law
2011-S5477 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5477 2011-2012 Regular Sessions I N S E N A T E May 25, 2011 ___________ Introduced by Sen. ZELDIN -- read twice and ordered printed, and when printed to be committed to the Committee on Consumer Protection AN ACT to amend the general business law, in relation to increasing disclosures by automobile broker businesses THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph (e) of subdivision 1 of section 738 of the gener- al business law, as added by chapter 616 of the laws of 1988, is amended to read as follows: (e) A description of any other services and an itemization of the charges for each. SUCH DESCRIPTION SHALL INCLUDE DISCLOSURE OF THE AUTO- MOBILE DEALER FROM WHICH THE AUTOMOBILE WAS PURCHASED, AS WELL AS ALL FEES, COMMISSIONS OR OTHER VALUABLE CONSIDERATIONS PAID BY AN AUTOMOBILE DEALER TO THE AUTOMOBILE BROKER BUSINESS FOR SELLING, ARRANGING, ASSIST- ING OR EFFECTING THE SALE OF AN AUTOMOBILE AS AGENT, BROKER, OR INTERME- DIARY BETWEEN THE CONSUMER AND THE AUTOMOBILE DEALER. S 2. The general business law is amended by adding two new sections 740-a and 740-b to read as follows: S 740-A. CONFIDENTIALITY OF SOCIAL SECURITY ACCOUNT NUMBER. AUTOMO- BILE BROKER BUSINESSES SHALL COMPLY WITH THE CONFIDENTIALITY PROVISIONS CONTAINED IN SECTION THREE HUNDRED NINETY-NINE-DD OF THIS CHAPTER, AS SUCH SECTION WAS ADDED BY CHAPTER SIX HUNDRED SEVENTY-SIX OF THE LAWS OF TWO THOUSAND SIX. S 740-B. AUTOMOBILE BROKER BUSINESS SURETY BOND. 1. AUTOMOBILE BROKER BUSINESSES SHALL OBTAIN AND CONTINUE IN EFFECT A SURETY BOND IN AN AMOUNT OF TWO HUNDRED FIFTY THOUSAND DOLLARS EXECUTED BY A SURETY COMPA- NY AUTHORIZED TO TRANSACT BUSINESS IN THE STATE BY THE INSURANCE DEPART- MENT OF THE STATE. THE BONDS SHALL BE APPROVED AS TO FORM BY THE SECRE- TARY OF STATE AND SHALL BE CONDITIONED ON THE AUTOMOBILE BROKER BUSINESS' PAYMENT OF ALL VALID BANK DRAFTS, INCLUDING CHECKS, DRAWN FOR THE PURCHASE OF MOTOR VEHICLES SAFEKEEPING OF ALL CUSTOMER DEPOSITS EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11150-02-1
co-Sponsors
(D) Senate District
2011-S5477A (ACTIVE) - Details
- Law Section:
- General Business Law
- Laws Affected:
- Amd §738, add §§740-a, 740-b & 741-a, Gen Bus L
2011-S5477A (ACTIVE) - Sponsor Memo
BILL NUMBER:S5477A TITLE OF BILL: An act to amend the general business law, in relation to increasing disclosures by automobile broker businesses PURPOSE OR GENERAL IDEA OF BILL: To regulate the practices of automobile broker businesses in New York. SUMMARY OF SPECIFIC PROVISIONS: Section 1 amends §738 of the General Business Law to require an automobile broker business ("broker") to include a disclosure in all contracts regarding the automobile dealer ("dealer") from which the automobile was purchased, as well as any consideration paid by a dealer to a broker for its services. Section 2 adds a new §740-b of the General Business Law to require all brokers to obtain a surety bond in the amount of $75,000. Section 3 adds a new §741-a of the General Business Law to require brokers to clearly and conspicuously disclose certain information in advertisements, namely that the broker is not a dealer, any fees imposed on a consumer for services rendered, and that no vehicle warranty repair services will be provided by the broker.
2011-S5477A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5477--A Cal. No. 921 2011-2012 Regular Sessions I N S E N A T E May 25, 2011 ___________ Introduced by Sens. ZELDIN, CARLUCCI -- read twice and ordered printed, and when printed to be committed to the Committee on Consumer Protection -- reported favorably from said committee, ordered to first and second report, ordered to a third reading, amended and ordered reprinted, retaining its place in the order of third reading AN ACT to amend the general business law, in relation to increasing disclosures by automobile broker businesses THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph (e) of subdivision 1 of section 738 of the gener- al business law, as added by chapter 616 of the laws of 1988, is amended to read as follows: (e) A description of any other services and an itemization of the charges for each. SUCH DESCRIPTION SHALL INCLUDE DISCLOSURE OF THE AUTO- MOBILE DEALER FROM WHICH THE AUTOMOBILE WAS PURCHASED, AS WELL AS ALL FEES, COMMISSIONS OR OTHER VALUABLE CONSIDERATIONS PAID BY AN AUTOMOBILE DEALER TO THE AUTOMOBILE BROKER BUSINESS FOR SELLING, ARRANGING, ASSIST- ING OR EFFECTING THE SALE OF AN AUTOMOBILE AS AGENT, BROKER, OR INTERME- DIARY BETWEEN THE CONSUMER AND THE AUTOMOBILE DEALER. S 2. The general business law is amended by adding a new section 740-a to read as follows: S 740-A. AUTOMOBILE BROKER BUSINESS SURETY BOND. 1. AUTOMOBILE BROKER BUSINESSES SHALL OBTAIN AND CONTINUE IN EFFECT A SURETY BOND IN AN AMOUNT OF SEVENTY-FIVE THOUSAND DOLLARS EXECUTED BY A SURETY COMPANY AUTHORIZED TO TRANSACT BUSINESS IN THE STATE BY THE INSURANCE DEPARTMENT OF THE STATE OR ITS SUCCESSOR. THE BONDS SHALL BE APPROVED AS TO FORM BY THE SECRETARY OF STATE AND SHALL BE CONDITIONED ON THE AUTOMOBILE BROKER BUSINESS' PAYMENT OF ALL VALID BANK DRAFTS, INCLUDING CHECKS, DRAWN FOR THE PURCHASE OF MOTOR VEHICLES AND SAFEKEEPING OF ALL CUSTOMER DEPOSITS RELATED TO THE SALE OF A MOTOR VEHICLE BETWEEN THE TIME OF EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11150-08-1
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