Bill > A05506

This bill amends the New York Vehicle and Traffic Law to establish clearer guidelines and penalties related to vehicle repossession. The bill defines key terms such as "collateral" (the vehicle being repossessed), "repossessor" (the person or entity conducting the repossession), and "repossession is complete" (which occurs when the repossessor gains entry to the vehicle, connects it to a tow truck, moves the entire vehicle, or gains control of it). The bill maintains existing requirements for repossessors to notify local police and the vehicle's owner after a repossession, and adds a new provision that makes it illegal to interfere with a repossessor transporting a vehicle to a storage facility, auction, or dealer after the repossession is complete. Specifically, anyone who interferes with such transport can be fined up to $250. The law will take effect 180 days after it becomes law, giving businesses and individuals time to understand and comply with the new regulations. This bill aims to provide clearer legal protections and procedures for vehicle repossession while establishing a specific penalty for obstructing the process.

Transportation and Infrastructure

https://www.nysenate.gov/legislation/bills/2025/A5506