1. The Laws of New York
  2. Consolidated Laws
  3. General Business
  4. Article 15: Specious Cash Sales

Section 254 Creditor relationship

General Business (GBS)

Without limiting the scope of section two hundred fifty-three, there shall be a rebuttable presumption that the creditor shall have knowingly participated in or shall have been directly connected with a consumer sale if:

  (a) the creditor is a person related to the seller; or

  (b) the seller prepared forms or documents used to evidence or secure the consumer loan; or

  (c) the creditor supplied forms to the seller which were used by the consumer to apply for, evidence or secure the consumer loan.