2013 New York Consolidated Laws
GBS - General Business
Article 39-D - (890 - 893) AUTO EQUITY PROMOTERS
890 - Auto equity promotion prohibited.

 
    §  890. Auto equity promotion prohibited. 1. No person shall engage in
  the business of auto equity promotion. A person engages in the  business
  of  auto  equity promotion, as used in this article, provided all of the
  following conditions are met:
    (A) The motor vehicle is subject to  an  outstanding  lease  contract,
  retail  installment  contract  or  security agreement the terms of which
  prohibit or prohibit without permission of the lessor, seller or secured
  party, the sublease, sale,  transfer  or  assignment  of  any  right  or
  interest  in  the motor vehicle or any right or interest under the lease
  contract, retail installment contract,  or  security  agreement  by  the
  lessee, buyer or debtor.
    (B)  The  person  is  not  a  party  to  the  lease  contract,  retail
  installment contract or security agreement.
    (C) The person subleases, sells, transfers or assigns, or purports  to
  sublease,  sell, transfer, or assign, any right or interest in the motor
  vehicle or under the lease  contract,  retail  installment  contract  or
  security  agreement,  to  any  person  who  is  not a party to the lease
  contract, retail installment contract or security agreement.
    (D) The person does not obtain, prior to the sublease, sale,  transfer
  or  assignment  described  in paragraph (C) of this subdivision, written
  consent to the sublease, sale, transfer or  assignment  from  the  motor
  vehicle's lessor, seller or secured party.
    (E)  The  person receives compensation or some other consideration for
  the sublease, sale, transfer or assignment as described in paragraph (C)
  of this subdivision.
    2. A person also engages in the business of auto equity promotion when
  such person is not a party to the  lease  contract,  retail  installment
  contract  or  security  agreement,  and  assists, facilitates, solicits,
  causes or arranges the actual or purported sublease, sale,  transfer  or
  assignment as described in subdivision one of this section.
    3.  For  purposes of this section, the term "person" means any natural
  person, corporation, sole proprietorship, business, trust,  partnership,
  incorporated  or unincorporated association, estate, co-operative or any
  other legal entity.