|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jun 20, 2019||committed to rules|
|May 06, 2019||advanced to third reading|
|May 01, 2019||2nd report cal.|
|Apr 30, 2019||1st report cal.469|
|Jan 29, 2019||referred to judiciary|
senate Bill S2804
Current Bill Status - In Senate Committee Rules Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S2804 (ACTIVE) - Details
S2804 (ACTIVE) - Sponsor Memo
BILL NUMBER: S2804 SPONSOR: COMRIE TITLE OF BILL: An act to amend the personal property law, in relation to rental-pur- chase agreement forms PURPOSE: To improve protections afforded to consumers in rental purchase agree- ments. SUMMARY OF PROVISIONS: Section 1 titles this act as the "rent to own fair practices act." Section 2 amends section 501 to increase font size on disclosures and removes weekends and holidays from counting toward nonpayment time frame.
S2804 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2804 2019-2020 Regular Sessions I N S E N A T E January 29, 2019 ___________ Introduced by Sen. COMRIE -- read twice and ordered printed, and when printed to be committed to the Committee on Judiciary AN ACT to amend the personal property law, in relation to rental-pur- chase agreement forms THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 2, paragraph (e) of subdivision 3, and subdi- vision 4 of section 501 of the personal property law, as added by chap- ter 792 of the laws of 1986, are amended to read as follows: 2. Disclosures required by this section must be printed or typed in each rental-purchase agreement in a size equal to at least [ten-point] TWELVE-POINT bold-faced type. (e) requiring the payment of a late charge or reinstatement fee unless a periodic payment is delinquent for more than three days for agreements that are renewed on week by week terms and seven days for agreements that are renewed on month by month terms[,]; PROVIDED, HOWEVER, THAT NEITHER SATURDAYS, SUNDAYS, NOR FEDERALLY-RECOGNIZED HOLIDAYS DURING WHICH THE UNITED STATES POSTAL SERVICE IS NOT OPEN TO THE PUBLIC SHALL COUNT TOWARD THE THREE OR SEVEN DAY TOTALS, and the charge or fee is in an amount not more than the greater of ten percent of the delinquent amount or three dollars for agreements that are renewed on week by week terms and not more than the greater of ten percent of the delinquent amount or five dollars for agreements that are renewed on month by month terms. In the event that multiple items are leased to a consumer pursu- ant to more than one rental-purchase agreement, any late fee imposed pursuant to this section shall not exceed ten percent of the total of the periodic payments that are delinquent. 4. Only one late charge or reinstatement fee may be assessed for a delinquent periodic payment regardless of the period during which it remains in default. No merchant shall assess a late charge for a period- ic payment made in full on its due date or within three days for agree- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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