There is a newer version
of
the New York Laws
2020 New York Laws
GBS - General Business
Article 5-A - Commercial Installment Sales
56 - Limitation on Refunds Under Commercial Installment Sales Agreements.
Universal Citation: NY Gen Bus L § 56 (2020)
§ 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.
Disclaimer: These codes may not be the most recent version. New York may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
