New York Personal Property Law Article 9-A - MOTOR VEHICLE RETAIL LEASING ACT

• 330 - Short Title.
  This article may be cited as the "Motor Vehicle Retail Leasing Act".
• 331 - Definitions.
  In this article, unless the context or subject matter otherwise requires: 1. "Motor vehicle" or "vehicle" means any device propelled or drawn by any power...
• 332 - Rebate or Discount for Information or Assistance in Lease or Sale of Motor Vehicle.
  No lessor shall induce or attempt to induce any person to enter into an agreement subject to this article by offering a subsequent rebate, discount,...
• 333 - Pre-Lease Availability of Sample Form of Agreement.
  1. The lessor of a motor vehicle shall make a blank sample copy of its current form of retail lease agreement readily available for examination...
• 334 - Payment or Trade-In Pending Execution of Lease Agreement; Refund or Return Upon Non-Execution.
  1. Any payment made by cash, check or similar means to a lessor pending the execution of a retail lease agreement shall be refunded to...
• 335 - Total Loss Notice and Waiver of the Gap Amount.
  1. If the retail lease agreement provides that the lessee shall be responsible upon a total loss of the vehicle occasioned by its theft, confiscation...
• 336 - Business Purpose Statement.
  1. A preprinted or typewritten affirmation or other provision indicating that a vehicle is being leased primarily for agricultural, business or commercial use shall be...
• 337 - Requirements As to Retail Lease Agreements.
  1. A retail lease agreement shall be in a writing and, except as otherwise provided in subdivision two of section three hundred forty-five of this...
• 338 - Security Interest Prohibited.
  1. No retail lease agreement, or any other agreement executed by the lessee in connection therewith, shall provide for the creation of a security interest...
• 339 - Notice of Lessee's Reinstatement Rights.
  After a lessee has been in default for ten days solely by reason of his or her failure to make timely rental payments, the holder...
• 340 - Establishment of Realized Value At Lease Termination When Purchase Option Not Exercised; Notice of Intention to Sell Motor Vehicle.
  1. If an agreement is terminated early and there is no option to purchase the vehicle or the lessee does not exercise any option he...
• 341 - Restriction on Early Termination Liability.
  1. If an agreement is terminated early and there is no option to purchase the vehicle or the lessee does not exercise any option he...
• 342 - Restriction on the Reporting of Early Terminations.
  The holder of a retail lease agreement shall not report the voluntary early termination of the agreement to a consumer reporting agency or any other...
• 343 - Assessment of Excess Wear and Damage to the Vehicle.
  1. (a) Upon the scheduled termination of a retail lease agreement, the holder shall not charge, receive or collect a charge for excess wear and...
• 344 - Cancellation of Agreement.
  After the payment of all sums for which the lessee is obligated under a retail lease agreement, and upon written demand made by the lessee,...
• 345 - Renegotiations and Extensions.
  1. A renegotiation is a new lease which is subject to the disclosure requirements of section three hundred thirty-seven of this article. 2. The disclosure...
• 346 - Penalties.
  1. A lessee who has suffered a loss due to a violation of any provision of this article by a lessor or holder is entitled...
• 347 - Liability of Assignees.
  Except where the assignment is involuntary or as otherwise specifically provided in this article, any civil action for a violation of this article which may...
• 348 - Transactions Subject to Article by Agreement.
  Parties to a motor vehicle lease agreement that is not a retail lease agreement, as defined in subdivision five of section three hundred thirty-one of...
• 349 - Applicability of Certain Provisions Hereof to Retail Lease of a Motor Vehicle for Any Use.
  The provisions of subdivision one of section three hundred thirty-five, section three hundred thirty-six and subdivision eleven of section three hundred thirty-seven of this article...
• 350 - Waiver Void.
  Any waiver of the provisions of this article by the lessee shall be unenforceable and void.
• 351 - Supplementary General Principles of Law Applicable.
  Unless displaced by the particular provisions of this article, other statutes of this state applicable to personal property leases and the principles of law and...
• 352 - Construction Against Implicit Repeal.
  This article being a general act intended as a unified coverage of its subject matter, no part of it shall be construed to be impliedly...
• 353 - Severability.
  If any provision of this article or the application thereof to any person or circumstances is held invalid, the invalidity does not affect other provisions...

Last modified: February 3, 2019