§ 46. Definitions. In this article unless the context or subject matter otherwise requires: 1. “Assignment” means any assignment of or order for payment of any earnings, whether given outright or as security. “Assignment” shall not include a payroll deduction, nor any part of earnings required by law to be withheld in payment of taxes, […]
§ 46-c. Formal requisites of assignments of less than one thousand dollars and of assignments securing certain guarantees amounting to fifteen hundred dollars or less. No assignment of future earnings, securing or relating to any indebtedness aggregating less than one thousand dollars, shall be valid for any purpose whatsoever unless: (a) such assignment shall be […]
§ 46-d. Guarantee of certain purchases secured by assignment of earnings. No guarantee given to the seller to secure the payment of goods, wares or merchandise amounting to fifteen hundred dollars or less sold for any use other than a commercial or business use, the payment of which is secured by an assignment of future […]
§ 46-e. Personal execution of assignment by assignor; delivery of copies of papers. No assignment of future earnings shall be valid for any purpose whatever unless such assignment is personally executed by the assignor. A copy thereof and of any papers attached thereto together with a copy or copies of any papers executed by the […]
§ 46-f. Limit on interest and other charges. Except as provided in article nine of the banking law, no person shall directly or indirectly receive or accept, whether by discount or otherwise, for the use and sale of his personal credit or for making or continuing any advance or loan of money (1) in anticipation […]
§ 47. Public filing of assignment before filing with employer. Except as provided in section forty-nine of this chapter, an assignment of future earnings or a true copy thereof, must be filed with the county clerk as provided for in section forty-seven-a before such assignment or a copy thereof is filed with the assignor’s employer.
§ 47-a. Place of filing. An assignment of future earnings or a true copy thereof authenticated by a notary public or commissioner of deeds, together with an itemized statement setting forth the amount then due the assignee and the date and amount of payments theretofore made upon the indebtedness, may be filed in the office […]
§ 47-b. Filing, entering and indexing. 1. The filing officer shall mark upon the assignment or true copy thereof filed with him the date of its filing and shall file such assignment or true copy thereof in his office for public inspection. He shall keep a separate book in which he shall enter the names […]
§ 47-c. Refiling. The filing of assignments shall be valid for a period of two years only. The validity of the filing may in each case be extended for successive additional periods of one year from the date of refiling by filing in the office of the county clerk of the county in which the […]
§ 47-d. Cancellation of assignment. Upon the payment or satisfaction of the indebtedness, and upon written demand delivered personally or by registered mail by the assignor, the assignee shall execute and acknowledge or prove, and deliver to the assignor a certificate setting forth that the indebtedness has been paid or otherwise satisfied and discharged. Such […]
§ 47-e. Vacating of an assignment, by order of a court. 1. An assignment may be vacated by a judgment of a court of record upon a special proceeding brought by the assignor, his employer or any person having an interest therein. Before such judgment shall be granted an order to show cause and the […]
§ 48. Notice to be mailed to assignor prior to filing with employer. 1. No assignment of future earnings shall be filed with the assignor’s employer until twenty days shall have elapsed after a written notice shall have been mailed to the assignor by certified mail, return receipt requested, addressed to his last known place […]
§ 48-a. Manner of collection; percentage of earnings deductible; restriction against multiple deductions. Subject to subdivision two of this section, any assignment of future earnings shall be collectible from the assignor’s employer at the time of each payment of such earnings commencing with the first payment thereof made after the expiration of ten days from […]
§ 48-b. Amount of exempt earnings. Notwithstanding anything contained in this article, no portion of the assignor’s future earnings shall be withheld by reason of any assignment, unless such earnings exceed the sum of eighty-five dollars per week.
§ 48-c. Assignment of future earnings by person unemployed; effect of loss of employment. If the assignor is not employed at the time he makes an assignment of future earnings, but is thereafter employed, his future earnings shall nevertheless become collectible by the assignee as provided in this article upon the filing of the prescribed […]
§ 48-d. Payroll deductions not included. Payroll deductions may be made by the employer notwithstanding any restriction in this article, and shall be deductible in addition to the payments under any wage assignment permitted by this article; provided however that in any case where payroll deductions and a payment due under an assignment will more […]
§ 49. Certain provisions not applicable to banks, trust companies or credit unions. 1. The provisions of section forty-seven of this article shall not be applicable to any bank, trust company or credit union doing business in the state of New York. 2. The provisions of section forty-eight of this article in so far as […]
§ 49-a. Statement to be filed by lenders upon assignment. 1. Every person, firm or corporation engaged in or seeking to engage in the business of lending money upon security of an assignment of, or of purchasing upon discount future or accrued earnings, shall file with the clerk of the county in which said person, […]
