Bill
A 441
Overview: Bill Number: A 441, Title: Increases the notice of cancellation requirements for automobile broker businesses, Status: SIGNED CHAP.19, Introduced: January 09, 2024Purpose
Overview: Bill Number: A 441, Title: Increases the notice of cancellation requirements for automobile broker businesses, Status: SIGNED CHAP.19, Introduced: January 09, 2024
Purpose and Intent: This bill aims to enhance consumer protection by increasing the notice of cancellation requirements for automobile broker businesses. The goal is to ensure that customers have sufficient time to make informed decisions when canceling contracts with these brokers.
Key Provisions:
- Increases the minimum notice of cancellation period for automobile broker contracts from 3 days to 10 days
- Requires automobile brokers to provide written notice of the cancellation policy to customers at the time of contract signing
- Prohibits automobile brokers from charging any fees or penalties for cancellations made within the 10-day notice period
Affected Parties and Impacts:
- Consumers who use automobile broker services will benefit from the extended cancellation period and increased transparency
- Automobile broker businesses will need to adjust their practices to comply with the new requirements
Procedural and Timeline Considerations:
The bill has been signed into law (Chapter 19) and will take effect immediately. Automobile broker businesses will need to update their contracts and procedures to comply with the new notice of cancellation requirements.
Compiled from official sources — confirm details with the bill’s official record.
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