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Assembly Bill A2512

2015-2016 Legislative Session

Prohibits the imposition of certain fees at the expiration of a term on a motor vehicle lease which constitutes administrative, clerical or handling charges

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Archive: Last Bill Status - On Floor Calendar

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2015-A2512 (ACTIVE) - Details

See Senate Version of this Bill:
S488
Law Section:
Personal Property Law
Laws Affected:
Amd ยง337, Pers Prop L
Versions Introduced in Other Legislative Sessions:
2009-2010: A2904, S1396
2011-2012: A1581, S1599
2013-2014: A466, S3573
2017-2018: A2337, S2988
2019-2020: A3345, S5921
2021-2022: A5551, S3236
2023-2024: A7167, S4778

2015-A2512 (ACTIVE) - Summary

Provides that with respect to leases on motor vehicles, no lease shall provide that the lessee would be charged a turn-in fee at the expiration of the term which constitutes solely an additional fee for administrative, handling or clerical charges.

2015-A2512 (ACTIVE) - Bill Text download pdf 

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

                                  2512

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 16, 2015
                               ___________

Introduced  by M. of A. ENGLEBRIGHT, MONTESANO -- read once and referred
  to the Committee on Judiciary

AN ACT to amend the personal property law, in  relation  to  prohibiting
  certain provisions in retail lease agreements

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

  Section 1. Paragraphs (h) and (i) of subdivision 14 of section 337  of
the  personal  property  law, paragraph (h) as added by chapter 1 of the
laws of 1994 and paragraph (i) as amended by chapter 111 of the laws  of
1995, are amended and a new paragraph (j) is added to read as follows:
  (h)  the  lessee  waives any right to a trial by jury in any action or
proceeding arising out of the agreement; [or]
  (i) a lessee who is not in default of his or her obligations under the
agreement would be prohibited from terminating the agreement at any time
after the expiration of the first fifty percent of the total  number  of
months  of the lease term. The exercise of this right to terminate early
voluntarily is contingent upon the lessee discharging fully his  or  her
liability under the early termination provisions of the agreement[.]; OR
  (J) THE LESSEE WOULD BE CHARGED A TURN-IN FEE AT THE EXPIRATION OF THE
TERM  WHICH  CONSTITUTES  SOLELY  AN  ADDITIONAL FEE FOR ADMINISTRATIVE,
HANDLING OR CLERICAL CHARGES.
  S 2. This act shall take effect on the first of January next  succeed-
ing  the  date  on  which  it shall have become a law and shall apply to
leases executed on or after such date.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03139-01-5

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