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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

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2017-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
2023-2024: A581

2017-A11353 (ACTIVE) - Summary

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

2017-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

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