Bill Text: NY S02672 | 2025-2026 | General Assembly | Introduced
Bill Title: Increases the notice of cancellation requirements for automobile broker businesses.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced) 2025-01-22 - REFERRED TO RULES [S02672 Detail]
Download: New_York-2025-S02672-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 2672 2025-2026 Regular Sessions IN SENATE January 22, 2025 ___________ Introduced by Sen. MAY -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the general business law, in relation to increasing the notice of cancellation requirements for automobile broker businesses The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision 2 of section 738 of the general business law, 2 as added by chapter 616 of the laws of 1988, the opening paragraph as 3 amended by a chapter of the laws of 2024 amending the general business 4 law and the vehicle and traffic law relating to automobile broker busi- 5 nesses, as proposed in legislative bills numbers S. 7553-A and A. 6 3499-B, is amended to read as follows: 7 2. The contract shall be accompanied by a completed form in duplicate, 8 captioned "Notice of Cancellation" which shall be attached to the 9 contract and easily detachable, and which shall contain in at least 10 twelve point type the following: 11 "Notice of Cancellation" 12 "You may cancel this contract, without any penalty or obligation, 13 within three days from the date that a copy of an executed contract is 14 received by you or until the automobile described in Section ( ) of this 15 contract has been delivered to you, whichever is sooner, provided that 16 if the automobile is not delivered to you in accordance with this 17 contract within thirty days of the estimated delivery date, you may 18 cancel this contract and receive a full refund, unless the delay in 19 delivery is attributable to you. Additionally, you may cancel this 20 contract, without any penalty or obligation, for other grounds under New 21 York State law, including but not limited to the rights enumerated in 22 Section 738 of the New York State General Business Law. 23 To cancel this contract, mail or deliver a signed and dated copy 24 of this cancellation notice, or any other written notice, to EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD02685-01-5S. 2672 2 1 (__________________________________) at (________________________) 2 name of automobile broker business address 3 [not later than midnight of the third day following your receipt of a4signed contract] within the applicable timeframe. 5 I hereby cancel this transaction." 6 _________________________________ 7 (signature of consumer) 8 _________________________ 9 (date) 10 § 2. Paragraph (e) of subdivision 1 of section 741-a of the general 11 business law, as amended by a chapter of the laws of 2024 amending the 12 general business law and the vehicle and traffic law relating to automo- 13 bile broker businesses, as proposed in legislative bills numbers S. 14 7553-A and A. 3499-B, is amended to read as follows: 15 (e) That the automobile broker business is not affiliated with any 16 [manufacturer, dealership, or dealership group] dealer, as defined in 17 section four hundred fifteen of the vehicle and traffic law, or any 18 motor vehicle franchisor, manufacturer, or distributor as defined in 19 section four hundred sixty-two of the vehicle and traffic law. 20 § 3. This act shall take effect on the same date and in the same 21 manner as a chapter of the laws of 2024 amending the general business 22 law and the vehicle and traffic law relating to automobile broker busi- 23 nesses, as proposed in legislative bills numbers S. 7553-A and A. 24 3499-B, takes effect.
