New York Personal Property Law Article 9 - MOTOR VEHICLE RETAIL INSTALMENT SALES ACT

• 301 - 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...
• 302 - Requirements As to Retail Instalment Contracts.
  1. A retail instalment contract shall be in writing, shall contain all the agreements of the parties and shall be signed by the buyer and...
• 302a - Total Loss Notice and Waiver of the Gap Amount.
  1. If the retail instalment contract provides that the buyer shall be responsible upon a total loss of the vehicle occasioned by its theft, confiscation...
• 303 - Credit Service Charge Limitation.
  1. A retail seller may contract for in a retail instalment contract and charge, receive and collect the credit service charge authorized by this article...
• 304 - Cancellation of Contract.
  After the payment of all sums for which the buyer is obligated under a retail instalment contract, and upon written demand made by the buyer,...
• 305 - Credit Upon Anticipation of Payments.
  1. Notwithstanding the provisions of any retail instalment contract to the contrary, any buyer may pay it in full at any time before the maturity...
• 306 - Refinancing.
  1. The holder of a retail instalment contract may, upon agreement with the buyer, extend the scheduled due date or defer the scheduled payment of...
• 307 - Penalties.
  1. Any person who shall wilfully violate any provision of this article shall be guilty of a misdemeanor and upon conviction shall be punished by...
• 308 - Waiver.
  Any waiver of the provisions of this article by the buyer shall be unenforceable and void.
• 309 - Exceptions.
  The provisions of section three hundred six and of subdivision ten of section three hundred two shall apply to an instalment sale of a motor...
• 310 - Severability.
  If any provision of this article or the application thereof to any person or circumstance is held unconstitutional, the remainder of the article and the...
• 311 - Short Title.
  This article may be cited as "The Motor Vehicle Retail Instalment Sales Act."
• 312 - Refund Credit on Cancellation of Credit Related Insurance or Prepayment of Contract.
  The provisions of this article requiring refunds and refund credits with respect to group credit life insurance, in cases of cancellation of group credit life...
• 313 - Guaranties to Sellers of Liabilities of Buyers Under Retail Instalment Contracts.
  No guaranty given to the seller or to the seller and the seller's assignee of the liabilities of a buyer under a retail instalment contract...
• 314 - Security Interest in Other Property.
  No retail instalment contract, or any other agreement executed in connection therewith, shall provide for the creation of a security interest in any personal or...
• 315 - Claim for Deficiency After Default and Repossession.
  If a buyer defaults on any instalment of the time sale price and the holder obtains possession of the motor vehicle and disposes of it...
• 316 - Notice of Buyer's Redemption Rights.
  The holder of any motor vehicle installment contract who repossesses or accepts a voluntary surrender of a motor vehicle pursuant to the provisions of article...

Last modified: February 3, 2019