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S04827 Summary:
| BILL NO | S04827E |
| SAME AS | SAME AS A06909-E |
| SPONSOR | THOMAS |
| COSPNSR | BAILEY, CARLUCCI, FELDER, JACKSON, KAPLAN, KRUEGER, MAY, PERSAUD, RAMOS, SEPULVEDA |
| MLTSPNSR | |
| Amd CPLR, generally; amd 212, Judy L | |
| Enacts the "consumer credit fairness act"; establishes a 3 year statute of limitations for commencement of a cause of action arising out of a consumer credit transaction where the defendant is a purchaser, borrower or debtor; establishes a notice of lawsuit which must be mailed to the defendant in such a cause of action; establishes certain requirements for the complaint in such an action; provides for arbitration of such actions. | |