N.Y. General Business Law § 890: Auto equity promotion prohibited

§ 890. Auto equity promotion prohibited. 1. No person shall engage in

the business of auto equity promotion. A person engages in the business

of auto equity promotion, as used in this article, provided all of the

following conditions are met:

(A) The motor vehicle is subject to an outstanding lease contract,

retail installment contract or security agreement the terms of which

prohibit or prohibit without permission of the lessor, seller or secured

party, the sublease, sale, transfer or assignment of any right or

interest in the motor vehicle or any right or interest under the lease

contract, retail installment contract, or security agreement by the

lessee, buyer or debtor.

(B) The person is not a party to the lease contract, retail

installment contract or security agreement.

(C) The person subleases, sells, transfers or assigns, or purports to

sublease, sell, transfer, or assign, any right or interest in the motor

vehicle or under the lease contract, retail installment contract or

security agreement, to any person who is not a party to the lease

contract, retail installment contract or security agreement.

(D) The person does not obtain, prior to the sublease, sale, transfer

or assignment described in paragraph (C) of this subdivision, written

consent to the sublease, sale, transfer or assignment from the motor

vehicle's lessor, seller or secured party.

(E) The person receives compensation or some other consideration for

the sublease, sale, transfer or assignment as described in paragraph (C)

of this subdivision.

2. A person also engages in the business of auto equity promotion when

such person is not a party to the lease contract, retail installment

contract or security agreement, and assists, facilitates, solicits,

causes or arranges the actual or purported sublease, sale, transfer or

assignment as described in subdivision one of this section.

3. For purposes of this section, the term "person" means any natural

person, corporation, sole proprietorship, business, trust, partnership,

incorporated or unincorporated association, estate, co-operative or any

other legal entity.