New York A 5741: Establishes additional notice requirements for site selection for community residential facilities

Bill Text

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A05741 Summary:

BILL NOA05741 

&nbsp

SAME ASSAME AS S05600

&nbsp

SPONSORDilan

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §404, Pers Prop L

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Provides for a cap on the credit service charge computed and collected on a retail instalment contract.

Go to top A05741 Actions:

BILL NOA05741 

&nbsp

02/20/2025referred to consumer affairs and protection

01/07/2026referred to consumer affairs and protection

Go to topA05741 Committee&nbspVotes:

Go to topA05741 Floor&nbspVotes:

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

Go to topA05741 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5741

 2025-2026 Regular Sessions

 IN ASSEMBLY

 February 20, 2025
 ___________

 Introduced by M. of A. DILAN -- read once and referred to the Committee
 on Consumer Affairs and Protection

 AN ACT to amend the personal property law, in relation to providing for
 a cap on the credit service charge computed and collected on a retail
 instalment contract

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

 1 Section 1. Subdivision 1 of section 404 of the personal property law,
 2 as amended by chapter 883 of the laws of 1980, is amended to read as
 3 follows:
 4 1. A seller may, in a retail instalment contract or obligation,
 5 contract for and, if so contracted for, the holder thereof may charge,
 6 receive and collect a credit service charge computed on the principal
 7 balance of the contract or obligation from the date thereof to and
 8 including the date when the final instalment is payable, at the rate or
 9 rates agreed to by the buyer, but such credit service charge shall not
 10 exceed the interest rate established pursuant to section fourteen-a of
 11 the banking law.
 12 § 2. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD09567-01-5

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