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2013 New York Consolidated Laws
GBS - General Business
Article 5-A - (56) COMMERCIAL INSTALLMENT SALES
56 - Limitation on refunds under commercial installment sales agreements.


NY Gen Bus L § 56 (2012) What's This?
 
    §  56.  Limitation  on  refunds  under  commercial  installment  sales
  agreements. An agreement for the sale of  equipment,  machinery  or  the
  accessories  or parts thereto to a commercial or business enterprise for
  its use or for the purpose of resale which provides for the financing of
  such purchase by an installment sale provision shall  provide  that  any
  refund due as a result of an early termination of the agreement shall be
  determined according to a generally accepted actuarial method.

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