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New York Consolidated Laws, General Business Law - GBS § 252. Definitions

Current as of January 01, 2026 | Updated by Findlaw Staff

For purposes of this article:

(a) The term “consumer” means an individual.

(b) The term “creditor'  1 means a person regularly engaged in the business of making loans.

(c) The term “seller” means a person who sells or agrees to sell personal property or furnishes or renders or agrees to furnish or render services.

(d) The term “consumer loan” means a loan of money by a creditor to a consumer for which the consumer's obligation is payable in installments or for which a finance or other charge is or may be imposed.

(e) The term “consumer sale” means a sale by a seller to a consumer of personal property or services for personal, family or household purposes.

(f) The term “person related to the seller” means with respect to an individual seller:

(1) the spouse of the seller;

(2) a brother, brother-in-law, sister or sister-in-law of the seller;

(3) an ancestor or lineal descendant of the seller or his spouse;  and

(4) any other relative, by blood or marriage of the seller or his spouse who shares a residence with the seller.

(g) The term “person related to the seller” means with respect to any other seller:

(1) a person directly or indirectly controlling, controlled by or under common control with the seller;

(2) an officer or director of the seller, or a person performing similar functions with respect to the seller;  the spouse of any such person;  and any other relative by blood or marriage of any such person who shares a residence with such person.

(h) A creditor who is not an individual shall be a “person related to the seller” if an officer of the creditor or a person performing similar functions, whose duties include participation in or supervision over the consumer loan the proceeds of which were primarily used in the consumer sale, is a person related to the seller under (f) and (g) of this section.

1  So in original.  Probably should be a double quotation mark.
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Cite this article: FindLaw.com - New York Consolidated Laws, General Business Law - GBS § 252. Definitions - last updated January 01, 2026 | https://codes.findlaw.com/ny/general-business-law/gbs-sect-252/

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