New York Laws
Article 26 - Miscellaneous
399-W - Total Loss Notice and Waiver of the Gap Amount for Non-Motor Vehicle Retail Lease Agreements.

(b) "Lessee" means a natural person who leases goods from a lessor
primarily for personal, family or household use and who executes a
retail lease agreement in connection therewith. The term does not
include a person who leases goods primarily for agricultural, business
or commercial use or for the purpose of subleasing.
(c) "Lessor" means a person regularly engaged in the business of
leasing or selling goods who leases goods to a lessee under or subject
to a retail lease agreement.
(d) "Lease" means a transfer from a lessor to a lessee of the right to
possession and use of goods in return for consideration. The term does
not include a sale, including a sale on approval or a sale or return, a
retail instalment sale as defined in article ten of the personal
property law or the retention or creation of a security interest in the
goods.
(e) "Retail lease agreement" or "agreement" means an agreement,
entered into in this state, for the lease of goods and which may include
the purchase of goods or services incidental thereto by a lessee for a
scheduled term exceeding four months, whether or not the lessee has the
option to purchase or otherwise become the owner of the goods at the
expiration of the agreement. The term includes such an agreement
wherever entered into if executed by the lessee in this state and if
solicited in person by a person acting on his or her own behalf or that
of the lessor. The term does not include a retail instalment contract or
a rental-purchase agreement as defined in articles ten and eleven of the
personal property law. An agreement that substantially complies with
this article does not create a security interest in the goods as the
term "security interest" is defined in paragraph thirty-five of
subsection (b) of section 1--201 of the uniform commercial code.
(f) "Gap amount" has the meaning ascribed to it in paragraph fifty-two
of subsection (a) of section one hundred seven of the insurance law.
(g) "Gap insurance" has the meaning ascribed to it in paragraph
twenty-six of subsection (a) of section one thousand one hundred
thirteen of the insurance law.
(h) "Person" means an individual, partnership, corporation,
association or other group, however organized.
* NB There are 2 § 399-w's

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