Bill
Bill > S07748
NY S07748
NY S07748Enacts provisions relating to the lease of credit card terminals; requires disclosures; prohibits certain practices.
summary
Introduced
01/10/2022
01/10/2022
In Committee
01/10/2022
01/10/2022
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
2021-2022 General Assembly
Bill Summary
AN ACT to amend the general business law, in relation to business consumer protection for point-of-sale equipment leases
AI Summary
This bill enacts new provisions in New York's General Business Law relating to the leasing of credit card terminals. It requires lessors to accurately disclose their relationship to the terminal and the lease terms, including total costs, fees, and the option to purchase. The bill also mandates that the lease and any associated service agreement be in the lessee's primary language and in a readable font size. Additionally, it grants lessees a 45-day cancellation period and prohibits certain practices, such as collecting taxes not actually imposed. Violations are deemed deceptive acts subject to penalties under existing law. The bill also authorizes the state Attorney General to promulgate any necessary rules or regulations.
Committee Categories
Business and Industry
Sponsors (5)
Last Action
REFERRED TO CONSUMER PROTECTION (on 01/10/2022)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2021/S7748 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S07748&term=2021&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S07748 |
Loading...