PocketLaw | New York Laws | Motor Vehicle Retail Leasing Act

Motor Vehicle Retail Leasing Act

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Short Title.

Definitions.

Rebate or Discount for Information or Assistance in Lease or Sale of Motor Vehicle.

Pre-Lease Availability of Sample Form of Agreement.

Payment or Trade-in Pending Execution of Lease Agreement; Refund or Return Upon Non-Execution.

Total Loss Notice and Waiver of the Gap Amount.

Business Purpose Statement.

Requirements as to Retail Lease Agreements.

Security Interest Prohibited.

Notice of Lessee's Reinstatement Rights.

Establishment of Realized Value at Lease Termination When Purchase Option Not Exercised; Notice of Intention to Sell Motor Vehicle.

Restriction on Early Termination Liability.

Restriction on the Reporting of Early Terminations.

Assessment of Excess Wear and Damage to the Vehicle.

Cancellation of Agreement.

Renegotiations and Extensions.

Penalties.

Liability of Assignees.

Transactions Subject to Article by Agreement.

Applicability of Certain Provisions Hereof to Retail Lease of a Motor Vehicle for Any Use.

Waiver Void.

Supplementary General Principles of Law Applicable.

Construction Against Implicit Repeal.

Severability.