New York § 625 - 625Assignment of contracts for services
Full text of New York New York Consolidated Laws § 625 — 625Assignment of contracts for services, with citation guidance and answers to common questions.
§ 625. 625Assignment of contracts for services
§ 625. Assignment of contracts for services. 1. No assignee who takes a note or other obligation as consideration for a contract containing the disclosure requirements of section six hundred twenty-four of this article shall fail to honor the consumer's right of cancellation as provided in this article. 2. No creditor holding a note or other obligation, to which a consumer has obligated himself in order to purchase a contract shall fail to honor the consumer's right of cancellation under this article if: (a) the creditor is a person related to the seller of services; or (b) the seller prepares documents used in connection with the loan; or (c) the creditor supplies forms to the seller used by the consumer in obtaining the loan; or (d) the creditor makes twenty or more loans in any calendar year, the proceeds of which are used in transactions with the same seller or with a person related to the same seller; or (e) the consumer is referred to the creditor by the seller; or (f) the creditor, directly or indirectly, pays the seller any consideration whether or not it is in connection with the particular transactions; or (g) the creditor participated in or was connected with the sale. 3. No assignee of a contract shall fail to give notice of the assignment to the consumer. A notice of assignment shall be in writing addressed to the consumer at the address shown on the contract and shall identify the contract.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 625
What does New York Consolidated Laws § 625 cover?
Section 625 ("625Assignment of contracts 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 § 625?
A common citation format is "New York Consolidated Laws § 625" (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 § 625 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.