N.Y. Military Law § 311: Installment purchases

§ 311. Installment purchases. 1. No person who has received, or whose

assignor has received, under a contract for the purchase of real or

personal property, or of lease or bailment with a view to purchase of

such property, a deposit or installment of the purchase price or a

deposit or installment under the contract, lease or bailment from a

person or from the assignor of a person who, after the date of payment

of such deposit or installment, has entered military service, shall

exercise any right or option under such contract to rescind or terminate

the contract or resume possession of the property for nonpayment of any

installment thereunder due or for any other breach of the terms thereof

occurring prior to or during the period of such military service, except

by action in a court of competent jurisdiction; provided, that nothing

contained in this section shall prevent the modification, termination,

or cancellation of any such contract, or prevent the repossession,

retention, foreclosure, sale or taking possession of property purchased

or received or which is security for any obligation under such contract,

pursuant to a mutual agreement of the parties thereto, or their

assignees, if such agreement is executed in writng subsequent to the

making of such contract and during or after the period of military

service of the person concerned.

2. Any person who shall knowingly resume possession of property which

is the subject of this section otherwise than as provided in subdivision

one hereof or attempt so to do, shall be guilty of a misdemeanor and

shall be punished by imprisonment not to exceed one year, or by fine not

to exceed one thousand dollars, or both.

3. Upon the hearing of such action the court may order the repayment

of prior installments or deposits or any part thereof, as a condition of

terminating the contract and resuming possession of the property, or

may, in its discretion, on its own motion, and shall, except as provided

in section three hundred and thirteen, on application to it by such

person in military service or some person on his behalf, order a stay of

proceedings as provided in this act except that such stay under this

section may be ordered for the period of military service and six months

thereafter or any part of such period, unless, in the opinion of the

court, the ability of the defendant to comply with the terms of the

contract is not materially affected by reason of such service; or it may

make such other disposition of the case as may be equitable to conserve

the interests of all parties.