N.Y. General Business Law 736 – Definitions
§ 736. Definitions. As used in this article:
Terms Used In N.Y. General Business Law 736
- Automobile broker business: means any person who, for a fee, commission or other valuable consideration, regardless of whether such fee, commission, or consideration is paid directly by a consumer, offers to provide, provides, or represents that he or she will provide a service of purchasing, arranging, assisting, facilitating or effecting the purchase or lease of an automobile as agent, broker, or intermediary for a consumer. See N.Y. General Business Law 736
- Consumer: means a natural person who is solicited to purchase or who purchases the services of an automobile broker business. See N.Y. General Business Law 736
- 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.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- 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.
- Person: includes an individual, corporation, partnership, joint venture, or any other business entity. See N.Y. General Business Law 736
1. "Automobile broker business" means any person who, for a fee, commission or other valuable consideration, regardless of whether such fee, commission, or consideration is paid directly by a consumer, offers to provide, provides, or represents that he or she will provide a service of purchasing, arranging, assisting, facilitating or effecting the purchase or lease of an automobile as agent, broker, or intermediary for a consumer. "Automobile broker business" does not include any person registered as a dealer pursuant to Article sixteen of the vehicle and traffic law nor any bona fide employee of a registered dealer while acting for such dealer, or any person who sells, offers for sale or lease or acts as agent, broker or intermediary in effecting the purchase or lease of three or fewer automobiles in any calendar year, any national service which aggregates information for consumers, but does not otherwise have contact with consumers, or any motor vehicle franchisor, manufacturer, or distributor registered under Article sixteen of the vehicle and traffic law.
2. "Consumer" means a natural person who is solicited to purchase or who purchases the services of an automobile broker business.
3. "Person" includes an individual, corporation, partnership, joint venture, or any other business entity.