New York A 3225: Relates to the withholding of salaries of elected officials who have been indicted on charges of any crimes related to their public office

Bill Text

Bill Search and Legislative Information | New York State Assembly 

• 

• 

• 

• 

• 

• 

• 

• 

 Skip to main content 

 New York State Assembly

 Speaker Carl E. Heastie

 --> 
 --> 

 --> 

• 
 Assembly Members 

• 
 Legislative Info 

• 
 Public Hearings 

• 
 Speaker's Press 

• 
 Assembly Reports 

• 
 Committees & More 

• Bill Search Home
• Laws
• Legislative Calendar
• Public Hearing Schedule
• Assembly Calendars
• Assembly Committee Agenda 

 Javascript must be enabled to properly view this page. 

 Bill No.: 

• Summary 
• Actions 
• Committee&nbspVotes 
• Floor&nbspVotes 
• Memo 
• Text 
• LFIN 
• Chamber&nbspVideo/Transcript 
A03225 Summary:

BILL NOA03225 

&nbsp

SAME ASNo Same As

&nbsp

SPONSORWalker

&nbsp

COSPNSRTaylor, Gibbs, Davila, Hunter, Steck, Ramos, Weprin, Hevesi, Fall, Chandler-Waterman, Cunningham,
 Anderson, Bronson, Alvarez, Reyes, Benedetto, Cruz, Lupardo, Rivera, Bores

&nbsp

MLTSPNSR

&nbsp

Add Art 39-H §§899-ccc - 899-mmm, Gen Bus L

&nbsp

Enacts the consumer litigation funding act to promote consumer protections related to consumer litigation funding transactions; provides for contract requirements, including that the contract contain a no penalty provision for the prepayment of the funded amount prior to the settlement of their case; makes related provisions.

Go to top A03225 Actions:

BILL NOA03225 

&nbsp

01/24/2025referred to consumer affairs and protection

01/07/2026referred to consumer affairs and protection

Go to topA03225 Committee&nbspVotes:

Go to topA03225 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA03225 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 3225

 2025-2026 Regular Sessions

 IN ASSEMBLY

 January 24, 2025
 ___________

 Introduced by M. of A. WALKER, TAYLOR, GIBBS, DAVILA, HUNTER, STECK,
 RAMOS, WEPRIN, HEVESI, FALL, CHANDLER-WATERMAN, CUNNINGHAM, ANDERSON,
 BRONSON, ALVAREZ, REYES, BENEDETTO, CRUZ, LUPARDO, RIVERA, BORES --
 read once and referred to the Committee on Consumer Affairs and
 Protection

 AN ACT to amend the general business law, in relation to consumer liti-
 gation funding

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Short title. This act shall be known and may be cited as
 2 the "consumer litigation funding act".
 3 § 2. Legislative intent. In an effort to promote consumer protections
 4 related to consumer litigation funding transactions, this act estab-
 5 lishes that such transactions should be subject to state regulation and
 6 sets forth requirements regarding disclosure, licensing, funding company
 7 and attorney responsibilities and limitations, violations and other
 8 items.
 9 § 3. The general business law is amended by adding a new article 39-H
 10 to read as follows:
 11 ARTICLE 39-H
 12 THIRD PARTY LITIGATION FINANCING
 13 Section 899-ccc. Definitions.
 14 899-ddd. Contract requirements; right of rescission.
 15 899-eee. Prohibitions and charge limitations.
 16 899-fff. Contracted amounts.
 17 899-ggg. Disclosures.
 18 899-hhh. Violations.
 19 899-iii. Assignability; liens.
 20 899-jjj. Effect of communication on privileges.
 21 899-kkk. Registration.
 22 899-lll. Reporting.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00080-01-5

 A. 3225 2

 1 899-mmm. Severability.
 2 § 899-ccc. Definitions. As used in this article, the following terms
 3 shall have the following meanings:
 4 1. "Advertise" means publishing or disseminating any written, oral,
 5 electronic or printed communication or any communication by means of
 6 recorded telephone messages or transmitted or broadcast on radio, tele-
 7 vision, the internet or similar communications media, including audio
 8 recordings, film strips, motion pictures and videos, published, dissem-
 9 inated, circulated or placed before the public, directly or indirectly,
 10 for the purpose of inducing a consumer to enter into a consumer liti-
 11 gation funding.
 12 2. "Charges" means the amount of money to be paid to the consumer
 13 litigation funding company by or on behalf of the consumer, above the
 14 funded amount provided by or on behalf of the company to a New York
 15 consumer pursuant to this article. Charges include all administrative,
 16 origination, underwriting or other fees, including interest, no matter
 17 how denominated. Such charges shall not exceed the maximum annual
 18 percentage rate applicable to consumer credit extended to a member of
 19 the military as provided for in Title 10, United States Code,
 20 section 987(b). Any contract which exceeds such rate shall be considered
 21 usurious as defined by section 5-501 of the general obligations law.
 22 3. "Consumer litigation funding" means a non-recourse transaction in
 23 which a consumer litigation funding company purchases and a consumer
 24 a