assembly Bill A11353

2017-2018 Legislative Session

Relates to requiring independent consideration in settlement agreements

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Archive: Last Bill Status - In Assembly Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Sep 19, 2018 referred to judiciary

A11353 (ACTIVE) - Details

Current Committee:
Assembly Judiciary
Law Section:
General Obligations Law
Laws Affected:
Add §5-1117, Gen Ob L
Versions Introduced in Other Legislative Sessions:
2019-2020: A849
2021-2022: A5580

A11353 (ACTIVE) - Summary

Requires independent consideration for each confidentiality provision in a settlement agreement.

A11353 (ACTIVE) - Bill Text download pdf


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

                                  11353

                          I N  A S S E M B L Y

                           September 19, 2018
                               ___________

Introduced  by COMMITTEE ON RULES -- (at request of M. of A. Simotas) --
  read once and referred to the Committee on Judiciary

AN ACT to amend the general obligations law, in relation to  independent
  consideration required for certain provisions in settlement agreements

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

  Section 1. The general obligations law is  amended  by  adding  a  new
section 5-1117 to read as follows:
  §  5-1117.  INDEPENDENT  CONSIDERATION  REQUIRED FOR SETTLEMENT AGREE-
MENTS. INDEPENDENT CONSIDERATION SHALL BE REQUIRED  FOR  EACH  CONFIDEN-
TIALITY  PROVISION  INCLUDED IN A SETTLEMENT AGREEMENT. FOR THE PURPOSES
OF THIS SECTION, "INDEPENDENT CONSIDERATION"  SHALL  MEAN  SOMETHING  OF
VALUE, EITHER A PROMISE, AN ACT OR AN OBJECT THAT IS OFFERED IN EXCHANGE
FOR EACH CONFIDENTIALITY PROVISION.
  § 2. This act shall take effect immediately.







 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13925-01-7