2018 New York Laws
GBS - General Business
Article 35-B - Automobile Broker Business
741-B - Disclosure.
§ 741-b. Disclosure. An automobile broker business shall provide a disclosure at the time such automobile broker business takes an order to search for a leased vehicle meeting the prospective lessee's specifications. Such disclosure shall provide the amount of any fees, commissions or other valuable consideration the automobile broker business expects to receive, if known, from a dealer, lessor or any other person or entity for any assistance the automobile broker business provides in effecting the lease transaction. If the amount of any such fees, commissions or other valuable consideration the automobile broker business expects to receive is unknown at the time of the required disclosure, the automobile broker business shall disclose: (a) whether it has a contract with any dealer, lessor or any other person or entity for the provision of assistance in effecting a lease transaction; and (b) whether the automobile broker business may be compensated by the dealer, lessor or any other person or entity for any assistance in effecting such lease transaction.
