|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jun 12, 2019||returned to assembly|
3rd reading cal.699
substituted for s3704
|Jun 12, 2019||substituted by a2653a|
|May 20, 2019||advanced to third reading|
|May 15, 2019||2nd report cal.|
|May 14, 2019||1st report cal.699|
|Feb 13, 2019||referred to judiciary|
senate Bill S3704
Current Bill Status Via A2653 - Passed Senate & Assembly
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S3704 (ACTIVE) - Details
S3704 (ACTIVE) - Sponsor Memo
BILL NUMBER: S3704 SPONSOR: KAVANAGH TITLE OF BILL: An act to amend the general obligations law, in relation to requirements for the use of plain language in consumer transactions PURPOSE: Increases the applicability of the plain language law to consumer contracts involving amounts up to $250,000 SUMMARY OF PROVISIONS: Section One amends the closing paragraph of subdivision a of section 5-702 of the general business law to increase the threshold for the use of "plain language" in consumer contracts from $100,000 to $250,000. Section Two is the effective date.
S3704 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3704 2019-2020 Regular Sessions I N S E N A T E February 13, 2019 ___________ Introduced by Sen. KAVANAGH -- 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 484 of the laws of 2018, 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 [one] TWO hundred FIFTY thou- sand dollars nor prohibit the use of words or phrases or forms of agree- ment required by state or federal law, rule or regulation or by a governmental 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; provided, however, that if chapter 484 of the laws of 2018 shall not have taken effect on or before such date then section one of this act shall take effect on the same date and in the same manner as such chapter of the laws of 2018 takes effect.
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