A 441: Increases the notice of cancellation requirements for automobile broker businesses.

  
  STATE OF NEW YORK ________________________________________________________________________ 441 2025-2026 Regular Sessions  IN ASSEMBLY (Prefiled) January 8, 2025 ___________ Introduced by M. of A. R. CARROLL -- read once and referred to the Committee on Consumer Affairs and Protection AN ACT to amend the general business law, in relation to increasing the notice of cancellation requirements for automobile broker businesses The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision 2 of section 738 of the general business law, 2 as added by chapter 616 of the laws of 1988, the opening paragraph as 3 amended by a chapter of the laws of 2024 amending the general business 4 law and the vehicle and traffic law relating to automobile broker busi- 5 nesses, as proposed in legislative bills numbers S. 7553-A and A. 6 3499-B, is amended to read as follows: 7 2. The contract shall be accompanied by a completed form in duplicate, 8 captioned "Notice of Cancellation" which shall be attached to the 9 contract and easily detachable, and which shall contain in at least 10 twelve point type the following: 11 "Notice of Cancellation" 12 "You may cancel this contract, without any penalty or obligation, 13 within three days from the date that a copy of an executed contract is 14 received by you or until the automobile described in Section ( ) of this 15 contract has been delivered to you, whichever is sooner, provided that 16 if the automobile is not delivered to you in accordance with this 17 contract within thirty days of the estimated delivery date, you may 18 cancel this contract and receive a full refund, unless the delay in 19 delivery is attributable to you. Additionally, you may cancel this 20 contract, without any penalty or obligation, for other grounds under New 21 York State law, including but not limited to the rights enumerated in 22 Section 738 of the New York State General Business Law. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02685-01-5 
 A. 441 2 1 To cancel this contract, mail or deliver a signed and dated copy 2 of this cancellation notice, or any other written notice, to 3 (__________________________________) at (________________________) 4 name of automobile broker business address 5 [not later than midnight of the third day following your receipt of a 6 signed contract] within the applicable timeframe. 7 I hereby cancel this transaction." 8 _________________________________ 9 (signature of consumer) 10 _________________________ 11 (date) 12 § 2. Paragraph (e) of subdivision 1 of section 741-a of the general 13 business law, as amended by a chapter of the laws of 2024 amending the 14 general business law and the vehicle and traffic law relating to automo- 15 bile broker businesses, as proposed in legislative bills numbers S. 16 7553-A and A. 3499-B, is amended to read as follows: 17 (e) That the automobile broker business is not affiliated with any 18 [manufacturer, dealership, or dealership group] dealer, as defined in 19 section four hundred fifteen of the vehicle and traffic law, or any 20 motor vehicle franchisor, manufacturer, or distributor as defined in 21 section four hundred sixty-two of the vehicle and traffic law. 22 § 3. This act shall take effect on the same date and in the same 23 manner as a chapter of the laws of 2024 amending the general business 24 law and the vehicle and traffic law relating to automobile broker busi- 25 nesses, as proposed in legislative bills numbers S. 7553-A and A. 26 3499-B, takes effect.