Title PEP, Personal Property

Section 1. Short title. This chapter shall be known as the "Personal Property Law."

§ 250. Exemption of exhibits at international exhibitions. No process of attachment, execution, sequestration, replevin, distress or any kind of seizure shall be served or levied upon articles, goods, wares, merchandise or property of any description while the same is enroute to…

§ 251. Definitions. 1. The term "property" as used in this article means money, instruments payable, drawn or issued to bearer or to cash, goods, chattels and tangible personal property other than (a) "instruments" as defined in subdivision two of this section, (b) animals, (c) …

§ 252. Found property and found instruments to be deposited with police; penalty for failure to deliver to police; delivery to persons in possession of premises where found. 1. Except as provided in subdivision five of section two hundred fifty-six of this chapter or as otherwis…

§ 253. Duties of police. 1. Unless otherwise prescribed in accordance with section two hundred fifty of the general municipal law or section two hundred twenty-five-a of the executive law and unless otherwise provided by law applicable specifically to matters prescribed in this …

§ 254. Disposition of lost property. Except as provided in section two hundred fifty-six of this chapter, lost property deposited with the police, and the money constituting proceeds of lost property sold as provided in subdivision five of section two hundred fifty-three remaini…

§ 255. Disposition of instruments. 1. An instrument deposited with the police shall be delivered to the person entitled thereto upon payment of all reasonable expenses incurred in connection therewith. 2. No instrument deposited with the police shall be destroyed or sold. Except…

§ 256. Exceptions. 1. If a finder takes possession of lost property while he is upon premises with respect to which his presence is a crime, the person in possession of the premises where the lost property was found shall have the rights of the finder as provided in section two …

§ 257. Title to lost property. 1. The title to lost property which has been deposited with the police shall vest in the finder, or other person entitled to assert the rights of the finder as provided in section two hundred fifty-six of this chapter, when the property is delivere…

§ 258. Proceeds to be paid into fund. Proceeds from the sale of lost property, less lawful deductions, or the money constituting lost property, shall be paid into the treasury of the county, city, town or village in the police department of which the property was deposited unles…

§ 285. Definitions. As used in this article: 1. The term "bond" means (a) a bond, note or other obligation of any kind or nature, whether secured or unsecured, which is part of an issue held by more than one person, or (b) a certificate or other instrument which is part of an is…

§ 286. Grounds for proceeding. Whenever there has been a default under a bond or a trust indenture which has not been cured, or whenever proceedings have been instituted under any federal or state law for the modification of a bond or a trust indenture or for a reorganization of…

§ 287. Contents of petition. The petition shall briefly describe the issue, stating the date, maturity and size thereof so far as known to the petitioner; shall set forth the default or proceedings upon which the application is based, and, if based on a default, the fact that su…

§ 288. Judgment. If the court shall be satisfied that the allegations of the petition are true, and that the interests of the bondholders of the issue as a whole will not be adversely affected by the granting of the application, it shall enter judgment directing the trustee, eve…

§ 30. Definitions. As used in this article, the term "transfer" includes sale, assignment, conveyance, deed and gift, and the term "agreement" includes promise and undertaking.

§ 301. Definitions. In this article, unless the context or subject matter otherwise requires: 1. "Motor vehicle" or "vehicle" means any device propelled or drawn by any power other than muscular power, upon or by which any person or property is or may be transported or drawn upo…

§ 302. Requirements as to retail instalment contracts. 1. A retail instalment contract shall be in writing, shall contain all the agreements of the parties and shall be signed by the buyer and the seller. 2. The printed portion of the contract shall be in at least eight point ty…

§ 302A. Total loss notice and waiver of the gap amount. 1. If the retail instalment contract provides that the buyer shall be responsible upon a total loss of the vehicle occasioned by its theft, confiscation or physical damage for the gap amount as defined in paragraph fifty-tw…

§ 303. Credit service charge limitation. 1. A retail seller may contract for in a retail instalment contract and charge, receive and collect the credit service charge authorized by this article at the rate or rates agreed to by the retail seller and the buyer. The credit service…

§ 304. Cancellation of contract. After the payment of all sums for which the buyer is obligated under a retail instalment contract, and upon written demand made by the buyer, the holder of such contract shall mail to the buyer at his last known address, good and sufficient instr…

§ 305. Credit upon anticipation of payments. 1. Notwithstanding the\nprovisions of any retail instalment contract to the contrary, any buyer\nmay pay it in full at any time before the maturity of the final\ninstalment of the time balance thereof and if he does so shall receive\n…

§ 306. Refinancing. 1. The holder of a retail instalment contract may,\nupon agreement with the buyer, extend the scheduled due date or defer\nthe scheduled payment of all or any part of any instalment or\ninstalments payable thereunder. The agreement for such extension or\ndefe…

§ 307. Penalties. 1. Any person who shall wilfully violate any provision of this article shall be guilty of a misdemeanor and upon conviction shall be punished by a fine not exceeding five hundred dollars. 2. A wilful violation of sections three hundred two or three hundred thre…

§ 308. Waiver. Any waiver of the provisions of this article by the buyer shall be unenforceable and void.

§ 309. Exceptions. The provisions of section three hundred six and of subdivision ten of section three hundred two shall apply to an instalment sale of a motor vehicle for any use.

§ 310. Severability. If any provision of this article or the application thereof to any person or circumstance is held unconstitutional, the remainder of the article and the application of such provision to other persons or circumstances shall not be affected thereby.

§ 311. Short title. This article may be cited as "The Motor Vehicle Retail Instalment Sales Act."

§ 312. Refund credit on cancellation of credit related insurance or prepayment of contract. The provisions of this article requiring refunds and refund credits with respect to group credit life insurance, in cases of cancellation of group credit life insurance or of prepayment o…

§ 313. Guaranties to sellers of liabilities of buyers under retail instalment contracts. No guaranty given to the seller or to the seller and the seller's assignee of the liabilities of a buyer under a retail instalment contract shall be valid unless the guaranty is incorporated…

§ 314. Security interest in other property. No retail instalment contract, or any other agreement executed in connection therewith, shall provide for the creation of a security interest in any personal or real property, other than the motor vehicle which is the subject matter of…

§ 315. Claim for deficiency after default and repossession. If a buyer\ndefaults on any instalment of the time sale price and the holder obtains\npossession of the motor vehicle and disposes of it as provided by\nsection 9--610 of the uniform commercial code, the buyer shall be …

§ 316. Notice of buyer's redemption rights. The holder of any motor vehicle installment contract who repossesses or accepts a voluntary surrender of a motor vehicle pursuant to the provisions of article nine of the uniform commercial code, or any contract, shall within seventy-t…

§ 330. Short title. This article may be cited as the "Motor Vehicle Retail Leasing Act".

§ 331. Definitions. In this article, unless the context or subject matter otherwise requires: 1. "Motor vehicle" or "vehicle" means any device propelled or drawn by any power other than muscular power, upon or by which any person or property is or may be transported or drawn upo…

§ 332. Rebate or discount for information or assistance in lease or sale of motor vehicle. No lessor shall induce or attempt to induce any person to enter into an agreement subject to this article by offering a subsequent rebate, discount, commission or other consideration, on t…

§ 333. Pre-lease availability of sample form of agreement. 1. The lessor of a motor vehicle shall make a blank sample copy of its current form of retail lease agreement readily available for examination by prospective lessees by: (a) Furnishing it upon request prior to the consu…

§ 334. Payment or trade-in pending execution of lease agreement; refund or return upon non-execution. 1. Any payment made by cash, check or similar means to a lessor pending the execution of a retail lease agreement shall be refunded to the lessee in the event the lease agreemen…

§ 335. Total loss notice and waiver of the gap amount. 1. If the retail lease agreement provides that the lessee shall be responsible upon a total loss of the vehicle occasioned by its theft, confiscation or physical damage for the gap amount, the lessor, prior to the execution …

§ 336. Business purpose statement. 1. A preprinted or typewritten affirmation or other provision indicating that a vehicle is being leased primarily for agricultural, business or commercial use shall be inadmissible in evidence in any trial, hearing, action or proceeding on beha…

§ 337. Requirements as to retail lease agreements. 1. A retail lease agreement shall be in a writing and, except as otherwise provided in subdivision two of section three hundred forty-five of this article, signed contemporaneously by the lessor and the lessee. Except as provide…

§ 338. Security interest prohibited. 1. No retail lease agreement, or any other agreement executed by the lessee in connection therewith, shall provide for the creation of a security interest in any personal or real property of the lessee to secure the payment of the debt arisin…

§ 339. Notice of lessee's reinstatement rights. After a lessee has been in default for ten days solely by reason of his or her failure to make timely rental payments, the holder of any retail lease agreement shall mail or personally deliver to the lessee at his or her last known…

§ 340. Establishment of realized value at lease termination when purchase option not exercised; notice of intention to sell motor vehicle. 1. If an agreement is terminated early and there is no option to purchase the vehicle or the lessee does not exercise any option he or she m…

§ 341. Restriction on early termination liability. 1. If an agreement is terminated early and there is no option to purchase the vehicle or the lessee does not exercise any option he or she may have to purchase the vehicle, the early termination obligation of the lessee may not …

§ 342. Restriction on the reporting of early terminations. The holder of a retail lease agreement shall not report the voluntary early termination of the agreement to a consumer reporting agency or any other person as a derogatory item of information unless the lessee fails to s…

§ 343. Assessment of excess wear and damage to the vehicle. 1. (a)\nUpon the scheduled termination of a retail lease agreement, the holder\nshall not charge, receive or collect a charge for excess wear and damage\nto the vehicle which exceeds: (i) the actual cost of repairs, red…

§ 344. Cancellation of agreement. After the payment of all sums for which the lessee is obligated under a retail lease agreement, and upon written demand made by the lessee, the holder of such agreement shall mail to the lessee at his or her last known address good and sufficien…

§ 345. Renegotiations and extensions. 1. A renegotiation is a new lease which is subject to the disclosure requirements of section three hundred thirty-seven of this article. 2. The disclosure requirements of section three hundred thirty-seven of this article are not applicable …

§ 346. Penalties. 1. A lessee who has suffered a loss due to a violation of any provision of this article by a lessor or holder is entitled to recover his or her actual damages from the lessor or holder. 2. Any lessor who fails to refund any payment made pending the execution of…

§ 347. Liability of assignees. Except where the assignment is involuntary or as otherwise specifically provided in this article, any civil action for a violation of this article which may be brought against a lessor may be maintained against any subsequent assignee of the lessor…