2022 New York Laws
GBS - General Business
Article 30 - Health Club Services
625 - Assignment of Contracts for Services.

Universal Citation:
NY Gen Bus L § 625 (2022)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
§  625. Assignment of contracts for services. 1. No assignee who takes
a note or other obligation as consideration for  a  contract  containing
the  disclosure  requirements of section six hundred twenty-four of this
article shall fail to honor the  consumer's  right  of  cancellation  as
provided in this article.
  2. No creditor holding a note or other obligation, to which a consumer
has  obligated  himself  in  order  to purchase a contract shall fail to
honor the consumer's right of cancellation under this article if:

(a) the creditor is a person related to the seller of services; or

(b) the seller prepares documents used in connection with the loan; or

(c) the creditor supplies forms to the seller used by the consumer in obtaining the loan; or

(d) the creditor makes twenty or more loans in any calendar year, the proceeds of which are used in transactions with the same seller or with a person related to the same seller; or

(e) the consumer is referred to the creditor by the seller; or

(f) the creditor, directly or indirectly, pays the seller any consideration whether or not it is in connection with the particular transactions; or

(g) the creditor participated in or was connected with the sale. 3. No assignee of a contract shall fail to give notice of the assignment to the consumer. A notice of assignment shall be in writing addressed to the consumer at the address shown on the contract and shall identify the contract.

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