NY State Assembly Bill 2015-A8166A

Assembly Bill A8166A

Signed By Governor

2015-2016 Legislative Session

Requires used motor vehicle dealers to have a $20,000 surety bond if they sell 50 or fewer cars a year, and a $100,000 surety bond if they sell more than 50 a year

download bill text pdf

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

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Actions

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Sep 29, 2016	signed chap.342
Sep 20, 2016	delivered to governor
Jun 17, 2016	returned to assembly passed senate 3rd reading cal.1442 substituted for s5485b
Jun 16, 2016	referred to rules delivered to senate passed assembly ordered to third reading rules cal.444 rules report cal.444 reported
Jun 15, 2016	reported referred to rules
Jun 09, 2016	print number 8166a
Jun 09, 2016	amend and recommit to transportation
Jan 06, 2016	referred to transportation
Jun 10, 2015	referred to transportation

Votes

- Jun 17, 2016 - Floor Vote
  A8166A
  
  48
  
  Aye
  
  14
  
  Nay
  
  0
  
  Absent
  
  1
  
  Excused
  
  0
  
  Abstained
  - - Floor Vote: Jun 17, 2016
      
      aye (48)
      
      Addabbo Jr.
      
      Avella
      
      Bonacic
      
      Boyle
      
      Breslin
      
      Carlucci
      
      Comrie
      
      DeFrancisco
      
      Dilan
      
      Espaillat
      
      Farley
      
      Felder
      
      Flanagan
      
      Gallivan
      
      Gianaris
      
      Golden
      
      Hamilton
      
      Hannon
      
      Hassell-Thompson
      
      Hoylman-Sigal
      
      Kaminsky
      
      Kennedy
      
      Klein
      
      Krueger
      
      Lanza
      
      Larkin
      
      Latimer
      
      Marcellino
      
      Marchione
      
      Martins
      
      Montgomery
      
      Nozzolio
      
      Panepinto
      
      Parker
      
      Peralta
      
      Perkins
      
      Persaud
      
      Rivera
      
      Robach
      
      Sanders Jr.
      
      Savino
      
      Serrano
      
      Squadron
      
      Stavisky
      
      Stewart-Cousins
      
      Valesky
      
      Venditto
      
      Young
      
      nay (14)
      
      Akshar
      
      Amedore
      
      Croci
      
      Funke
      
      Griffo
      
      LaValle
      
      Little
      
      Murphy
      
      O'Mara
      
      Ortt
      
      Ranzenhofer
      
      Ritchie
      
      Serino
      
      Seward
      
      excused (1)
      
      Diaz

Bill Amendments

Original

A (Active)

2015-A8166 - Details

See Senate Version of this Bill:: S5485
Law Section:: Vehicle and Traffic Law
Laws Affected:: Amd §415, V & T L

2015-A8166 - Summary

Requires used motor vehicle dealers to have a $20,000 surety bond if they sell 50 or less cars a year, and a $100,000 surety bond if they sell more than 50 cars a year.

2015-A8166 - Bill Text download pdf

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

                                  8166

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                              June 10, 2015
                               ___________

Introduced by M. of A. CRESPO -- read once and referred to the Committee
  on Transportation

AN  ACT to amend the vehicle and traffic law, in relation to surety bond
  requirements for car dealers

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

  Section 1. Paragraphs a and c of subdivision 6-b of section 415 of the
vehicle  and  traffic  law, as amended by chapter 7 of the laws of 2000,
paragraph a as further amended by section 104 of part A of chapter 62 of
the laws of 2011, are amended to read as follows:
  a. As a condition to obtaining a registration certificate pursuant  to
this  section, every new motor vehicle dealer applicant and every quali-
fied dealer applicant shall obtain and continue in effect a surety  bond
in  an  amount  of  fifty  thousand dollars executed by a surety company
authorized to transact business in the state by the department of finan-
cial services of the state. As a condition to obtaining  a  registration
certificate  pursuant  to  this  section, every dealer applicant, who is
[applying for a registration certificate in the first instance or] NOT A
NEW MOTOR VEHICLE DEALER OR A QUALIFIED MOTOR  VEHICLE  DEALER  AND  who
sold  [two hundred] FIFTY motor vehicles or fewer in the previous calen-
dar year, shall obtain and continue in effect a surety bond in an amount
of [ten] TWENTY thousand dollars executed by a surety company authorized
to transact business  in  the  state  by  the  department  of  financial
services  of  the  state.  As  a  condition  of obtaining a registration
certificate pursuant to this section, every dealer applicant, who IS NOT
A NEW MOTOR VEHICLE DEALER OR A QUALIFIED MOTOR VEHICLE DEALER  AND  WHO
sold more than [two hundred] FIFTY motor vehicles in the previous calen-
dar  year shall obtain and continue in effect a surety bond in an amount
of [twenty-five] ONE HUNDRED  thousand  dollars  executed  by  a  surety
company  authorized  to transact business in the state by the department
of financial services of the state. The bonds shall be  approved  as  to

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10954-08-5

A. 8166                             2

form by the commissioner and shall be conditioned on the new motor vehi-
cle  dealer's,  qualified  dealer's,  and dealer's: payment of all valid
bank drafts, including checks, drawn by such dealer for the purchase  of
motor vehicles; transfer of good title to each motor vehicle such dealer
sells;  safekeeping  of  all  customer deposits related to the sale of a
motor vehicle between the time of receipt of such customer  deposit  and
the  transfer  of good title to the vehicle to the customer; payment for
all fines imposed upon the new motor vehicle dealer,  qualified  dealer,
or  dealer  by the commissioner pursuant to the provisions of this chap-
ter; and such dealer's repayment of any overcharges  of  a  customer  by
such  dealer for the vehicle registration and titling charges payable to
the commissioner for registering and titling the sold vehicle.
  c. Any surety issuing a bond pursuant to  this  subdivision  shall  be
required  to provide sixty days' notice to the commissioner prior to the
effective date of cancellation OR LAPSE of the bond, AND  SHALL  PROVIDE
NOTICE TO THE COMMISSIONER UPON THE DATE OF THE CANCELLATION OR LAPSE OF
SUCH BOND. UPON THE CANCELLATION OR LAPSE OF ANY SURETY BOND REQUIRED BY
THIS  SUBDIVISION,  THE  COMMISSIONER  SHALL  WITHIN  FIVE  DAYS OF SUCH
CANCELLATION OR LAPSE, VERIFY THAT THE DEALER HOLDS A SURETY BOND  WHICH
MEETS THE REQUIREMENTS OF THIS SUBDIVISION.
  S 2. This act shall take effect on the one hundred eightieth day after
it shall have become a law.

2015-A8166A (ACTIVE) - Details

See Senate Version of this Bill:: S5485
Law Section:: Vehicle and Traffic Law
Laws Affected:: Amd §415, V & T L

2015-A8166A (ACTIVE) - Summary

Requires used motor vehicle dealers to have a $20,000 surety bond if they sell 50 or less cars a year, and a $100,000 surety bond if they sell more than 50 cars a year.

2015-A8166A (ACTIVE) - Bill Text download pdf

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

                                 8166--A

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                              June 10, 2015
                               ___________

Introduced by M. of A. CRESPO -- read once and referred to the Committee
  on Transportation -- recommitted to the Committee on Transportation in
  accordance  with Assembly Rule 3, sec. 2 -- committee discharged, bill
  amended, ordered reprinted as amended and recommitted to said  commit-
  tee

AN  ACT to amend the vehicle and traffic law, in relation to surety bond
  requirements for car dealers

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

  Section 1. Paragraphs a and c of subdivision 6-b of section 415 of the
vehicle  and  traffic  law, as amended by chapter 7 of the laws of 2000,
paragraph a as further amended by section 104 of part A of chapter 62 of
the laws of 2011, are amended to read as follows:
  a. As a condition to obtaining a registration certificate pursuant  to
this  section, every new motor vehicle dealer applicant and every quali-
fied dealer applicant shall obtain and continue in effect a surety  bond
in  an  amount  of  fifty  thousand dollars executed by a surety company
authorized to transact business in the state by the department of finan-
cial services of the state. As a condition to obtaining  a  registration
certificate  pursuant  to  this  section,  every dealer applicant who is
applying for a registration certificate in the  first  instance  or  who
sold  [two hundred] FIFTY motor vehicles or fewer in the previous calen-
dar year shall obtain and continue in effect a surety bond in an  amount
of [ten] TWENTY thousand dollars executed by a surety company authorized
to  transact  business  in  the  state  by  the  department of financial
services of the state.  As  a  condition  of  obtaining  a  registration
certificate  pursuant  to  this section, every dealer applicant who sold
more than [two hundred] FIFTY motor vehicles in  the  previous  calendar
year  shall  obtain and continue in effect a surety bond in an amount of
[twenty-five] ONE HUNDRED thousand dollars executed by a surety  company
authorized to transact business in the state by the department of finan-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10954-10-6

A. 8166--A                          2

cial  services  of  the state. The bonds shall be approved as to form by
the commissioner and shall be conditioned on the new motor vehicle deal-
er's, qualified dealer's,  and  dealer's:  payment  of  all  valid  bank
drafts, including checks, drawn by such dealer for the purchase of motor
vehicles;  transfer  of  good  title  to  each motor vehicle such dealer
sells; safekeeping of all customer deposits related to  the  sale  of  a
motor  vehicle  between the time of receipt of such customer deposit and
the transfer of good title to the vehicle to the customer;  payment  for
all  fines  imposed upon the new motor vehicle dealer, qualified dealer,
or dealer by the commissioner pursuant to the provisions of  this  chap-
ter;  and  such  dealer's  repayment of any overcharges of a customer by
such dealer for the vehicle registration and titling charges payable  to
the  commissioner for registering and titling the sold vehicle. ANY SUCH
DEALER WHICH IS BONDED PURSUANT TO THIS SECTION PRIOR TO  THE  EFFECTIVE
DATE  OF  THE  CHAPTER OF THE LAWS OF TWO THOUSAND SIXTEEN WHICH AMENDED
THIS PARAGRAPH SHALL BE REQUIRED TO COMPLY WITH THE AMENDMENTS  MADE  BY
SUCH CHAPTER UPON RENEWAL, REPLACEMENT, ALTERATION, OR EXTENSION OF SUCH
DEALER'S CURRENT SURETY BOND.
  c.  Any  surety  issuing  a bond pursuant to this subdivision shall be
required to provide sixty days' notice to the commissioner prior to  the
effective  date  of cancellation OR LAPSE of the bond, AND SHALL PROVIDE
ADDITIONAL NOTICE TO THE COMMISSIONER UPON THE DATE OF THE  CANCELLATION
OR LAPSE OF SUCH BOND. UPON THE CANCELLATION OR LAPSE OF ANY SURETY BOND
REQUIRED  BY  THIS SUBDIVISION, THE COMMISSIONER SHALL, WITHIN FIVE DAYS
OF SUCH CANCELLATION OR LAPSE, VERIFY THAT THE  DEALER  HOLDS  A  SURETY
BOND WHICH MEETS THE REQUIREMENTS OF THIS SUBDIVISION.
  S 2. This act shall take effect on the one hundred eightieth day after
it shall have become a law.

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