N.Y. General Business Law § 56: Limitation on refunds under commercial installment sales agreements

§ 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.