|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 11, 2017||referred to consumer protection|
senate Bill S2024
Archive: Last Bill Status - In Senate Committee Consumer Protection Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S2024 (ACTIVE) - Details
S2024 (ACTIVE) - Sponsor Memo
BILL NUMBER: S2024 TITLE OF BILL : An act to amend the general business law, in relation to auction requirements PURPOSE : To increase transparency and disclosure in the auction process beyond the borders of New York City. SUMMARY OF PROVISIONS : The bill requires that an auctioneer be held responsible -- to the extent practicable -- for making a good faith effort to ensure the accuracy of statements contained in any catalogue, as of the date of the catalogue's initial publication. *The consignor must show that he or she has complete and lawful right, title, and interest in property being auctioned. *It must be disclosed if an auctioneer or auction house has any interest in an article being auctioned. *The existence of a "reserve price" must be disclosed to the audience.
S2024 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2024 2017-2018 Regular Sessions I N S E N A T E January 11, 2017 ___________ Introduced by Sen. SQUADRON -- read twice and ordered printed, and when printed to be committed to the Committee on Consumer Protection AN ACT to amend the general business law, in relation to auction requirements THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Legislative intent. The legislature declares that the following provisions of law are in addition to other provisions of law and regulations applicable to auctions. § 2. The general business law is amended by adding a new section 29 to read as follows: § 29. REQUIREMENTS FOR AUCTIONS. 1. THE AUCTIONEER WILL BE HELD RESPONSIBLE FOR THE TRUTH OF ANY STATEMENT CONTAINED IN ANY CATALOGUE, ADVERTISEMENT, ANNOUNCEMENT, PRESS RELEASE OR OTHER PUBLIC STATEMENT MADE BY THE AUCTIONEER RELATING TO ANY AUCTION. 2. A. NO PERSONAL PROPERTY MAY BE AUCTIONED EXCEPT PURSUANT TO A WRIT- TEN CONTRACT BETWEEN THE CONSIGNOR OR HIS OR HER AGENT OR AUTHORIZED REPRESENTATIVE AND THE AUCTIONEER, UNLESS AUCTIONED PURSUANT TO AN ORDER OF A COURT OF COMPETENT JURISDICTION. B. EVERY CONTRACT REQUIRED PURSUANT TO PARAGRAPH A OF THIS SUBDIVISION MUST CONTAIN THE FOLLOWING PROVISIONS: (I) ALL FEES, COMMISSIONS AND CHARGES TO BE PAID BY THE CONSIGNOR TO THE AUCTIONEER OR HIS OR HER AGENTS, PRINCIPALS, EMPLOYEES, EMPLOYERS OR ASSIGNS SHALL: (1) TO THE EXTENT PRACTICABLE, BE ITEMIZED AND SPECIFIED AS TO AMOUNT (WHICH MAY BE STATED AS A PERCENTAGE OF THE RESERVE PRICE OR ANY FINAL BID), AND (2) IF SUCH ITEMIZATION AND SPECIFICATION AS TO AMOUNT IS NOT PRACTI- CABLE, BE DESCRIBED WITH SUFFICIENT PARTICULARITY TO INFORM THE CONSIG- NOR OF THE NATURE OF THE SERVICES FOR WHICH SUCH FEES, COMMISSIONS AND CHARGES WILL BE IMPOSED. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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