There is a newer version of the New York Consolidated Laws
2006 New York Code - Settlements.
§ 20-704 Settlements. a. In lieu of instituting or continuing an action pursuant to this subchapter, the commissioner may accept written assurance of discontinuance of any act or practice in violation of this subchapter from the person or persons who have engaged in such acts or practices. Such assurance may include a stipulation for voluntary payment by the violator of the costs of investigation by the commissioner and may also include a stipulation for the restitution by the violator to consumers, of money, property or other things received from them in connection with a violation of this subchapter, including money necessarily expended in the course of making and pursuing a complaint to the commissioner. All settlements shall be made a matter of public record. If such stipulation applies to consumers who have been affected by the violator's practices but have not yet complained to the commissioner, the assurance must be approved by the court, which shall direct the minimum means by which potential claimants shall be notified of the stipulation. A consumer need not accept restitution pursuant to such a stipulation; his or her acceptance shall bar recovery of any other damages in any action by him or her against the defendant or defendants on account of the same acts or practices. b. Violation of an assurance entered into pursuant to this section shall be treated as a violation of this subchapter and shall be subject to all the penalties provided therefor.
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