New York City Council     Members

Under the current NYC Administrative Code, home improvement licensees, when doing home repair or home improvement work, are restricted from facilitating certain financing for that work. Specifically, they are prohibited from acting as an agent for a lender and from advertising, promoting or otherwise arranging for the services of a lender. This bill would remove the prohibition on advertising, promoting or otherwise arranging for the services of a lender but would maintain the prohibition on acting as the agent of a lender and prohibit the advertising or promoting of a single lender.

  • Filed (End of Session)

History

City Council
Filed (End of Session)
City Council
Referred to Comm by Council
City Council
Introduced by Council
Int. No. 707
 
By Council Members Espinal, Rose and Koslowitz
 
 
A Local Law to amend the administrative code of the city of New York, in relation to the permitted activities of home improvement contractors in regard to home improvement financing.
 
 
Be it enacted by the Council as follows:      
Section 1. Subdivision 17 of section 20-393 of the administrative code of the city of New York is amended to read as follows:
17.  Notwithstanding any other provisions of this section, no person licensed under this subchapter shall, in connection with any home repair or home improvement, act as an agent for[, or advertise, promote or arrange for the services of] a lender or its affiliate, or advertise or promote for only one lender or affiliate, to secure a home loan or a home improvement loan for or on behalf of an owner.
§ 2. This local law shall take effect immediately.
 
BJR
LS 2377
3/4/15  2:57PM