Bill
Bill > S04525
summary
Introduced
03/14/2019
03/14/2019
In Committee
01/08/2020
01/08/2020
Crossed Over
06/17/2019
06/17/2019
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
2019-2020 General Assembly
Bill Summary
AN ACT to amend the general obligations law and the banking law, in relation to providing financial consumer protections for small businesses The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1
AI Summary
This bill expands consumer protections for usury and interest to small businesses. It amends the General Obligations Law and the Banking Law to apply the rights and privileges granted to individuals under these laws to small businesses as well. A small business is defined as one that is resident in New York State, independently owned and operated, not dominant in its field, and employs 100 or fewer persons.
Committee Categories
Business and Industry, Justice
Sponsors (4)
Last Action
REFERRED TO JUDICIARY (on 01/08/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://assembly.state.ny.us/leg/?default_fld=&bn=S04525&term=2019&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y | 03/15/2019 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S04525&term=2019&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S04525 | 03/15/2019 |
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