N.Y. General Business Law 399-W*2 – Notice requirements for renters of personal property
* § 399-w. Notice requirements for renters of personal property. 1. For the purposes of this section, the following terms shall have the following meanings:
Terms Used In N.Y. General Business Law 399-W*2
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Personal property: All property that is not real property.
(a) "Owner" shall include any person, partnership, firm, association, or corporation engaged in the business of renting personal property for profit.
(b) "Personal property" shall include but not be limited to tangible chattels used for personal, household, or business purposes but shall not include motor vehicles.
(c) "Rental agreement" shall mean the total legal obligation that results from a written rental contract between a person and the owner for the rental of personal property.
2. Any owner who rents personal property shall:
(a) conspicuously post a sign in a prominent and visible area in the place of business, measuring at least two feet by four feet in writing of at least thirty-six point print, with the following notice:
RENTAL INFORMATION
WARNING! Failure to return rented property pursuant to the terms of
the rental agreement may subject the renter to criminal
prosecution.
(b) include in all rental contracts, in writing in at least twelve point print, the following notice:
Failure to return rented property under the terms of this agreement
may subject the undersigned party(ies) to criminal prosecution.
3. This section shall not apply to: (a) rental purchase agreements as regulated by Article 11 of the personal property law and (b) motor vehicle rentals under paragraph two of subdivision (a) of section one hundred ninety-eight-a and paragraph two of subdivision a of section one hundred ninety-eight-b of this chapter.
* NB There are 2 § 399-w's