|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 10, 2022||referred to consumer protection|
senate Bill S7748
Current Bill Status - In Senate Committee Consumer Protection Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S7748 (ACTIVE) - Details
S7748 (ACTIVE) - Sponsor Memo
BILL NUMBER: S7748 SPONSOR: THOMAS TITLE OF BILL: An act to amend the general business law, in relation to business consumer protection for point-of-sale equipment leases PURPOSE: To regulate leases of credit card terminals to merchants and curb unfair practices by finance leasing companies. SUMMARY OF PROVISIONS: Section 1 of the bill adds a new article 42 to the general business law titled, "credit card terminal leases." Section 1100 defines credit card terminal and requires salespeople to disclose, orally and in writing, to prospective lessees the nature of their relationship to entities that own, lease, service, and finance the credit card terminal and the terms of the finance lease and whether oral
S7748 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ S. 7748 A. 8593 S E N A T E - A S S E M B L Y January 10, 2022 ___________ IN SENATE -- Introduced by Sen. THOMAS -- read twice and ordered print- ed, and when printed to be committed to the Committee on Consumer Protection IN ASSEMBLY -- Introduced by M. of A. FALL -- read once and referred to the Committee on Consumer Affairs and Protection AN ACT to amend the general business law, in relation to business consumer protection for point-of-sale equipment leases THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The general business law is amended by adding a new article 42 to read as follows: ARTICLE 42 CREDIT CARD TERMINAL LEASES SECTION 1100. SOLICITATION; MATERIAL MISREPRESENTATION. 1101. CREDIT CARD TERMINAL; LEASE PROVISIONS. 1102. VIOLATIONS. § 1100. SOLICITATION; MATERIAL MISREPRESENTATION. 1. AS USED IN THIS ARTICLE, "CREDIT CARD TERMINAL" MEANS PHYSICAL EQUIPMENT USED AT THE POINT OF SALE TO ACCEPT PAYMENT BY A PAYMENT CARD, INCLUDING A CREDIT CARD, DEBIT CARD, EBT CARD, PREPAID CARD, OR GIFT CARD. 2. A PERSON WHO SOLICITS A FINANCE LEASE FOR THE USE OF A CREDIT CARD TERMINAL SHALL ACCURATELY DISCLOSE, ORALLY AND IN WRITING: (A) THE NATURE AND SCOPE OF HIS OR HER RELATIONSHIP TO THE PERSON OR PERSONS WHO OWN, LEASE, SERVICE, AND FINANCE THE CREDIT CARD TERMINAL AND TO THE PERSON OR PERSONS, IF KNOWN, WHO PROVIDE SERVICES RELATED TO THE CREDIT CARD TERMINAL, INCLUDING WHETHER HE OR SHE IS AN EMPLOYEE, INDEPENDENT CONTRACTOR, OR AGENT OF ONE OR MORE OF THOSE PERSONS; AND (B) THE TERMS OF A FINANCE LEASE AND WHETHER ORAL STATEMENTS OR COMMITMENTS HE OR SHE MAKES TO THE PROSPECTIVE LESSEE WHILE SOLICITING A FINANCE LEASE ARE INCLUDED IN THE TERMS OF THE FINANCE LEASE AND ENFORCEABLE AGAINST A PARTY TO A FINANCE LEASE. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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