Senate Bill S6069

2017-2018 Legislative Session

Increases the monetary exclusion on the requirement of plain language in consumer contracts

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Judiciary Committee

  • 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

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2017-S6069 (ACTIVE) - Details

See other versions of this Bill:
S7074 ,
A1085 ,
Current Committee:
Senate Judiciary
Law Section:
General Obligations Law
Laws Affected:
Amd §5-702, Gen Ob L
Versions Introduced in Other Legislative Sessions:
2013-2014: S5206
2015-2016: S3135, S3155
2019-2020: S2657
2021-2022: S4211
2023-2024: S2064

2017-S6069 (ACTIVE) - Summary

Increases the monetary exclusion on the requirement of plain language in consumer contracts.

2017-S6069 (ACTIVE) - Sponsor Memo

2017-S6069 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6069
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                               May 10, 2017
                                ___________
 
 Introduced  by Sen. SQUADRON -- read twice and ordered printed, and when
   printed to be committed to the Committee on Judiciary
 
 AN ACT to amend the general obligations law, in relation to requirements
   for the use of plain language in consumer transactions
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. The closing paragraph of subdivision a of section 5-702 of
 the general obligations law, as amended by chapter  1  of  the  laws  of
 1994, is amended to read as follows:
   Any  creditor, seller or lessor who fails to comply with this subdivi-
 sion shall be liable to a consumer who is a party to a written agreement
 governed by this subdivision in an amount equal to  any  actual  damages
 sustained plus a penalty of fifty dollars. The total class action penal-
 ty  against  any  such  creditor,  seller or lessor shall not exceed ten
 thousand dollars in any class action or series of class actions  arising
 out  of  the  use  by a creditor, seller or lessor of an agreement which
 fails to comply with this subdivision.  No action under this subdivision
 may be brought after both parties to the agreement have fully  performed
 their obligation under such agreement, nor shall any creditor, seller or
 lessor  who  attempts  in  good faith to comply with this subdivision be
 liable for such penalties. This subdivision shall not apply  to  a  good
 faith  attempt  to describe the constant yield or other method of deter-
 mining the lease charge and depreciation portions of  each  base  rental
 payment  under  a lease of personal property. It also shall not apply to
 agreements involving amounts in excess of  TWO  HUNDRED  fifty  thousand
 dollars  nor  prohibit the use of words or phrases or forms of agreement
 required by state or federal law, rule or regulation  or  by  a  govern-
 mental instrumentality.
   § 2. This act shall take effect on the one hundred eightieth day after
 it  shall have become a law and shall apply to any contract entered into
 after such effective date.

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

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