| BILL NO | S04398A |
| |
| SAME AS | SAME AS A07558-A
|
| |
| SPONSOR | SCHNEIDERMAN |
| |
| COSPNSR | ADDABBO, DIAZ, HASSELL-THOMPSON, KRUEGER, MONTGOMERY, OPPENHEIMER, PARKER, PERALTA, PERKINS,
SERRANO |
| |
| MLTSPNSR | |
| |
| Amd SS213, 3012, & 3215, amd RR3016 & 3211, add SS214-f, 306-c & 7515, CPLR |
| |
| Enacts the "consumer credit fairness act"; establishes a 3 year statute of limitations for commencement of a cause of action arising out of a consumer credit transaction where the defendant is a purchaser, borrower or debtor; establishes a notice of lawsuit which must be mailed to the defendant in such a cause of action; establishes certain requirements for the complaint in such an action; provides for arbitration of such actions. |
