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.
LBD02685-01-5
S. 2672 2
1 (__________________________________) at (________________________)
2 name of automobile broker business address
3 [not later than midnight of the third day following your receipt of a
4 signed 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.