Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Mar 18, 2024 |
referred to consumer affairs and protection delivered to assembly passed senate |
Feb 12, 2024 |
advanced to third reading |
Feb 07, 2024 |
2nd report cal. |
Feb 06, 2024 |
1st report cal.358 |
Jan 03, 2024 |
referred to consumer protection returned to senate died in assembly |
Mar 09, 2023 |
referred to consumer affairs and protection |
Mar 08, 2023 |
delivered to assembly passed senate |
Feb 14, 2023 |
advanced to third reading |
Feb 13, 2023 |
2nd report cal. |
Feb 08, 2023 |
1st report cal.327 |
Jan 04, 2023 |
referred to consumer protection |
Senate Bill S540
2023-2024 Legislative Session
Sponsored By
(D) 6th Senate District
Current Bill Status - In Assembly 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
Actions
Votes
co-Sponsors
(D) 14th Senate District
(D, WF) 48th Senate District
(D) 20th Senate District
(D) 19th Senate District
2023-S540 (ACTIVE) - Details
- Current Committee:
- Assembly Consumer Affairs And Protection
- Law Section:
- General Business Law
- Laws Affected:
- Add Art 42 §§1100 - 1102, Gen Bus L
- Versions Introduced in 2021-2022 Legislative Session:
-
S7748
2023-S540 (ACTIVE) - Sponsor Memo
BILL NUMBER: S540 SPONSOR: THOMAS TITLE OF BILL: An act to amend the general business law, in relation to business 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
2023-S540 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 540 2023-2024 Regular Sessions I N S E N A T E January 4, 2023 ___________ Introduced by Sens. THOMAS, COMRIE, MYRIE, PERSAUD, SEPULVEDA -- 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 business 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 PRIOR TO THE PRESENTATION OF A SPECIFIC OFFER FOR A FINANCE LEASE: (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) WHETHER THE PERSON WHO SOLICITS THE FINANCE LEASE HAS THE AUTHORI- TY TO NEGOTIATE TERMS OF A FINANCE LEASE WITH A PROSPECTIVE LESSEE. 3. THE WRITTEN DISCLOSURE SHOULD BE IN NO LESS THAN TWELVE POINT FONT. THE DISCLOSURE SHOULD BE WRITTEN IN THE PRIMARY LANGUAGE USED TO COMMU- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02287-01-3 S. 540 2
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