New York § 354 - 354Restrictions on assignments of compensation for services
Full text of New York New York Consolidated Laws § 354 — 354Restrictions on assignments of compensation for services, with citation guidance and answers to common questions.
§ 354. 354Restrictions on assignments of compensation for services
§ 354. Restrictions on assignments of compensation for services. 1. A licensee shall not take an assignment of unearned wages or other earnings unless: (a) the assignment by its terms is revocable at the will of the borrower; or (b) the assignment is a payroll deduction plan. 2. No assignment of wages or other earnings given to secure any loan hereunder shall be valid unless the amount of such loan is paid to the borrower simultaneously with its execution.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 354
What does New York Consolidated Laws § 354 cover?
Section 354 ("354Restrictions on assignments of compensation for services") is part of the New York Consolidated Laws, the codified statutory law of New York. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New York § 354?
A common citation format is "New York Consolidated Laws § 354" (New York). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New York law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New York official source linked on this page or consult a licensed New York attorney.
How does New York § 354 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New York can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New York.