GroundRules
← Search the law
New York · Through 2026-09-11

N.Y. General Business Law § 741-b: Disclosure

Read at publisher ↗
Where this section sits in the code
  1. General Business Law
  2. Article 35-B. Automobile Broker Business

§ 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 or purchased 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 or purchase 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 or

purchase transaction; (b) that the automobile broker business shall be

compensated by the dealer, lessor or any other person or entity for any

assistance in effecting such lease transaction; and (c) that the amount

of any such fees, commissions or other valuable consideration the

automobile broker business receives, whether from the dealer or the

buyer of the automobile, shall be disclosed on the executed lease or

purchase contract or finance agreement pursuant to section three hundred

two or three hundred thirty-seven of the personal property law.

Collected 2026-09-14T19:32:44Z. Source file · JSON

Browse this collection