Bill
Bill > S03105
summary
Introduced
01/27/2021
01/27/2021
In Committee
01/05/2022
01/05/2022
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
2021-2022 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
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 grant small businesses, defined as those with 100 or fewer employees that are independently owned and operated and not dominant in their field, the same rights and privileges regarding interest rates and usury as are granted to individuals. The bill aims to provide small businesses with the same financial consumer protections as individuals.
Committee Categories
Justice
Sponsors (4)
Last Action
REFERRED TO JUDICIARY (on 01/05/2022)
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://www.nysenate.gov/legislation/bills/2021/S3105 | 01/28/2021 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S03105&term=2021&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S03105 | 01/28/2021 |
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