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 17, 2016 |
substituted by a8166a |
Jun 16, 2016 |
amended on third reading 5485b |
Jun 16, 2016 |
vote reconsidered - restored to third reading returned to senate recalled from assembly |
Jun 07, 2016 |
referred to transportation delivered to assembly passed senate |
Jun 06, 2016 |
ordered to third reading cal.1442 committee discharged and committed to rules |
Jan 06, 2016 |
referred to transportation returned to senate died in assembly |
Jun 15, 2015 |
referred to transportation delivered to assembly passed senate ordered to third reading cal.1567 committee discharged and committed to rules |
Jun 05, 2015 |
print number 5485a |
Jun 05, 2015 |
amend and recommit to transportation |
May 14, 2015 |
referred to transportation |
Senate Bill S5485A
Signed By Governor2015-2016 Legislative Session
Sponsored By
(D) Senate District
Archive: Last Bill Status Via A8166 - 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
2015-S5485 - Details
- Law Section:
- Vehicle and Traffic Law
- Laws Affected:
- Amd §415, V & T L
2015-S5485 - Sponsor Memo
BILL NUMBER:S5485 TITLE OF BILL: An act to amend the vehicle and traffic law, in relation to surety bond requirements for car dealers PURPOSE: This bill will increase the required surety bond level for all used car dealers, with a lower bond level for those with a low volume of sales, and a higher bond level for those with a high volume of sales. SUMMARY OF PROVISIONS: Section 1: Amends paragraph a 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 law of 2011 to provide that: (1) used motor vehicle dealers must obtain and maintain a surety bond of $20,000 if they sell fewer than 50 cars annually, Or a surety bond of $100,000 if they sell more than 50 cars annually. Dealers who are already bonded must comply with these provisions by January 1, 2016. (2) Explicitly provides that surety bonds shall apply to all claims arising from business, acts and/or omissions by the dealership relating to the sale of motor. vehicles. (3) Surety bond issuers must provide notice to the
2015-S5485 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5485 2015-2016 Regular Sessions I N S E N A T E May 14, 2015 ___________ Introduced by Sen. KLEIN -- read twice and ordered printed, and when printed to be committed 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, b 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 motor vehicles or fewer in the previous calendar year shall obtain and continue in effect a surety bond in an amount of ten 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 motor vehicles in the previous calendar year shall obtain and continue in effect a surety bond in an amount of twenty-five 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 form by the commissioner and shall be condi- tioned on the new motor vehicle dealer's, qualified dealer's, and deal- er's: payment of all valid bank drafts, including checks, drawn by such EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD10954-04-5
2015-S5485A - Details
- Law Section:
- Vehicle and Traffic Law
- Laws Affected:
- Amd §415, V & T L
2015-S5485A - Sponsor Memo
BILL NUMBER:S5485A TITLE OF BILL: An act to amend the vehicle and traffic law, in relation to surety bond requirements for car dealers PURPOSE: This bill will increase the required surety bond level for all used car dealers, with a lower bond level for those with a low volume of sales, and a higher bond level for those with a high volume of sales. SUMMARY OF PROVISIONS: Section 1: Amends paragraph a 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 to provide that: (1) used motor vehicle dealers must obtain and maintain a surety bond of $20,000 if they sell fewer. than 50 cars annually, or a surety bond of $100,000 if they sell more than 50 cars annually. Surety bond issuers must notify the Department of Motor. Vehicles when a dealer's bond expires, and the DMV must verify within five days that a dealer currently has a valid surety bond. Section 2: This act shall take effect on the one hundred eightieth day after it shall have become a law.
2015-S5485A - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5485--A 2015-2016 Regular Sessions I N S E N A T E May 14, 2015 ___________ Introduced by Sen. KLEIN -- read twice and ordered printed, and when printed to be committed to the Committee on Transportation -- commit- tee discharged, bill amended, ordered reprinted as amended and recom- mitted to said committee 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 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD10954-07-5
2015-S5485B (ACTIVE) - Details
- Law Section:
- Vehicle and Traffic Law
- Laws Affected:
- Amd §415, V & T L
2015-S5485B (ACTIVE) - Sponsor Memo
BILL NUMBER: S5485B TITLE OF BILL : An act to amend the vehicle and traffic law, in relation to surety bond requirements for car dealers PURPOSE : This bill will increase the required surety bond level for all used car dealers, with a lower bond level for those with a low volume of sales, and a higher bond level for those with a high volume of sales. SUMMARY OF PROVISIONS : Section 1: Provides that used motor vehicle dealers must obtain and maintain a surety bond of $20,000 if they sell fewer than 50 cars annually, or a surety bond of $100,000 if they sell more than 50 cars annually. Dealers which currently have a bond in effect prior to the effective date of the act will not have to increase their bond levels to the new levels until they alter, extend, replace, etc. their current bond. Surety bond issuers must notify the Department of Motor Vehicles when a dealer's bond expires, and the DMV must verify within five days that a dealer currently has a valid surety bond. Section 2: This act shall take effect on the one hundred eightieth day
2015-S5485B (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5485--B Cal. No. 1442 2015-2016 Regular Sessions I N S E N A T E May 14, 2015 ___________ Introduced by Sen. KLEIN -- read twice and ordered printed, and when printed to be committed to the Committee on Transportation -- commit- tee discharged, bill amended, ordered reprinted as amended and recom- mitted to said committee -- recommitted to the Committee on Transpor- tation in accordance with Senate Rule 6, sec. 8 -- committee discharged and said bill committed to the Committee on Rules -- reported favorably from said committee, ordered to a third reading, passed by Senate and delivered to the Assembly, recalled, vote recon- sidered, restored to third reading, amended and ordered reprinted, retaining its place in the order of third reading 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 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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