{"data":{"id":"us-ny/n.y.-general-business-law-56","jurisdiction":"us-ny","citation":"N.Y. General Business Law § 56","heading":"Limitation on refunds under commercial installment sales agreements","body":"§ 56. Limitation on refunds under commercial installment sales\nagreements. An agreement for the sale of equipment, machinery or the\naccessories or parts thereto to a commercial or business enterprise for\nits use or for the purpose of resale which provides for the financing of\nsuch purchase by an installment sale provision shall provide that any\nrefund due as a result of an early termination of the agreement shall be\ndetermined according to a generally accepted actuarial method.","path":["General Business Law","Article 5-A. Commercial Installment Sales"],"source_url":"https://legislation.nysenate.gov/api/3/laws/GBS/56","current_through":"2026-09-11","vintage":"","retrieved_at":"2026-09-14T19:32:44Z","sha256":"5377b40516281678507375e8d016c11b1524f1cd5ad3fd6583f58f4d6bf4aaf0","source_id":"us-ny","stale":false,"prev":"us-ny/n.y.-general-business-law-55","next":"us-ny/n.y.-general-business-law-60"},"notice":"GroundRules: Original legal text. Not legal advice."}