{"data":{"id":"us-ny/n.y.-general-business-law-625","jurisdiction":"us-ny","citation":"N.Y. General Business Law § 625","heading":"Assignment of contracts for services","body":"§ 625. Assignment of contracts for services. 1. No assignee who takes\na note or other obligation as consideration for a contract containing\nthe disclosure requirements of section six hundred twenty-four of this\narticle shall fail to honor the consumer's right of cancellation as\nprovided in this article.\n  2. No creditor holding a note or other obligation, to which a consumer\nhas obligated himself in order to purchase a contract shall fail to\nhonor the consumer's right of cancellation under this article if:\n  (a) the creditor is a person related to the seller of services; or\n  (b) the seller prepares documents used in connection with the loan; or\n  (c) the creditor supplies forms to the seller used by the consumer in\nobtaining the loan; or\n  (d) the creditor makes twenty or more loans in any calendar year, the\nproceeds of which are used in transactions with the same seller or with\na person related to the same seller; or\n  (e) the consumer is referred to the creditor by the seller; or\n  (f) the creditor, directly or indirectly, pays the seller any\nconsideration whether or not it is in connection with the particular\ntransactions; or\n  (g) the creditor participated in or was connected with the sale.\n  3. No assignee of a contract shall fail to give notice of the\nassignment to the consumer. A notice of assignment shall be in writing\naddressed to the consumer at the address shown on the contract and shall\nidentify the contract.","path":["General Business Law","Article 30. Health Club Services"],"source_url":"https://legislation.nysenate.gov/api/3/laws/GBS/625","current_through":"2026-09-11","vintage":"","retrieved_at":"2026-09-14T19:32:44Z","sha256":"3945e2be8ff612aff83581ea7810e5d33351d3640d375599e0cd7fbb0b92a8e6","source_id":"us-ny","stale":false,"prev":"us-ny/n.y.-general-business-law-624","next":"us-ny/n.y.-general-business-law-626"},"notice":"GroundRules: Original legal text. Not legal advice."}