Senate Bill S7121

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7121
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                               May 18, 2023
                                ___________
 
 Introduced  by  Sen. KENNEDY -- read twice and ordered printed, and when
   printed to be committed to the Committee on Transportation
 
 AN ACT to amend the vehicle and traffic law, in relation to dealer  sale
   rescission or cancelation for any vehicle
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The vehicle and traffic law is  amended  by  adding  a  new
 section 2124-a to read as follows:
   § 2124-A. DEALER SALE RESCISSION OR CANCELATION FOR ANY VEHICLE. (A) A
 DEALER  AND PURCHASER MAY, BY CONCURRENCE, RESCIND OR CANCEL THE SALE OF
 A VEHICLE NOT LATER THAN THE THIRTIETH DAY FOLLOWING THE DATE OF SALE. A
 RESCINDED OR CANCELED SALE REQUIRES RETURN BY THE DEALER TO THE RIGHTFUL
 PARTIES ALL FEES, TAXES, AND OTHER MONIES PROVIDED TO THE DEALER AS PART
 OF THE SALE.
   (B) THE CONCURRENCE OF ALL PARTIES TO RESCIND OR CANCEL THE SALE SHALL
 BE ACKNOWLEDGED BY DEALER AND PURCHASER  IN  A  RETURN  AGREEMENT  WHICH
 SHALL  BE  RETAINED  BY  THE  DEALER  WITH  THE VEHICLE SALES RECORDS. A
 CANCELED OR RESCINDED SALE INVALIDATES ANY REQUIREMENTS IMPOSED UPON THE
 DEALER TO SUBMIT AN APPLICATION OR REMIT  ANY  FEES  AND  TAXES  IF  THE
 APPLICATION, FEES OR TAXES HAVE NOT BEEN REMITTED.
   (C)  IF AN APPLICATION HAS BEEN SUBMITTED OR FEES OR TAXES REMITTED OR
 THE DEALER REQUIRES A CERTIFICATE OF  TITLE  FOR  A  VEHICLE  THEY  HAVE
 ELECTED TO SUBJECT TO THIS SECTION FOR RESALE PURPOSES, THE RESCINDED OR
 CANCELED  SALE  AND RETURN TO THE RIGHTFUL PARTIES OF ALL FEES AND OTHER
 MONIES SHALL BE CERTIFIED BY THE DEALER UPON A FORM  PRESCRIBED  BY  THE
 COMMISSIONER.  THE  FORM SHALL BE COMPLETED AND SUBMITTED TO THE COMMIS-
 SIONER WITHIN FIFTEEN DAYS OF THE DATE THE PARTIES AGREED TO  CANCEL  OR
 RESCIND  THE  SALE,  HAVE  ATTACHED  TO IT A COPY OF THE DEALER'S RETURN
 AGREEMENT, THE CERTIFICATE OF TITLE OR INCLUDED A CERTIFICATION  ON  THE
 FORM  THAT  THE  CERTIFICATE  OF  TITLE  HAS BEEN LOST OR DESTROYED IF A
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11469-01-3
 S. 7121                             2
              

 
 CERTIFICATE OF TITLE HAS BEEN ISSUED, AND THE FEE  PURSUANT  TO  SECTION
 TWENTY-ONE HUNDRED TWENTY-FIVE OF THIS ARTICLE.
   (D) UPON RECEIPT OF THE FORM, THE COMMISSIONER SHALL WITHIN SEVEN DAYS
 OF  RECEIPT REFUND TO THE DEALER ANY FEES AND TAXES PAID TO OR COLLECTED
 BY THE COMMISSIONER FOR THE SALE WHICH IS SUBJECT TO THE  RESCISSION  OR
 CANCELLATION  LESS  THE FEE PURSUANT TO SECTION TWENTY-ONE HUNDRED TWEN-
 TY-FIVE OF THIS ARTICLE, AND ISSUE A CERTIFICATE OF TITLE TO THE  DEALER
 WITH  THE  DEALER  REFLECTED  AS  THE  OWNER AND THE ODOMETER READING AS
 RECORDED AT THE TIME OF SALE WHICH  IS  SUBJECT  TO  THE  RESCISSION  OR
 CANCELLATION.  A  DEALER  SHALL NOT OFFER A VEHICLE THEY HAVE ELECTED TO
 SUBJECT TO THIS SECTION FOR RETAIL SALE UNTIL THE  DEALER  HAS  RECEIVED
 THE CERTIFICATE OF TITLE PROVIDED BY THIS SUBDIVISION.
   (E)  ANY  RESCISSION,  CANCELLATION,  OR REVOCATION UNDER THIS SECTION
 SHALL NOT NEGATE THE FACT THAT THE VEHICLE HAS BEEN  THE  SUBJECT  OF  A
 PREVIOUS RETAIL SALE.
   § 2. This act shall take effect immediately.