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§ 19-552 Risk of loss on trip payments.
   a.   Notwithstanding any inconsistent regulations, provisions of law or provisions of any contract entered into after the effective date of the local law that added this section, if a payment transaction for a completed trip dispatched by a high-volume for-hire service fails, such high-volume for-hire service shall ensure that the driver receives the entire amount owed to such driver for such completed trip.
   b.   Notwithstanding subdivision a of this section, a high-volume for-hire service may refuse to deposit funds to a driver for rendering services upon a reasonable belief that the driver's account is associated with fraudulent activity.
   c.   Any high-volume for-hire service that violates this section is liable for a civil penalty of not less than $250 nor more than $500 for each offense.
(L.L. 2018/217, 12/15/2018, eff. 4/14/2019)
§ 19-553 Leasing, rental and conditional purchase of for-hire vehicles.
   a.   The commission shall promulgate consumer protection and disclosure rules regarding leasing, rental, lease-to-own, and conditional purchase arrangements to obtain a for-hire vehicle for use with a license issued by the commission. Such rules may differ for different types of financial arrangements and different lengths of time of such arrangements. In promulgating such rules, the commission shall at a minimum consider the following:
      1.   A requirement that financial arrangements be in writing and signed by the lessor and lessee, with a copy provided to the lessee upon execution and upon lessee request;
      2.   Requiring that all terms must be written in clear and unambiguous language;
      3.   A requirement that the terms of the arrangement include:
         (a)   The beginning and end date of the arrangement;
         (b)   All costs and fees that may be charged under the arrangement, with costs for additional services such as insurance and licensing clearly indicated; and
         (c)   An explanation of the conditions that will result in the imposition of any cost or fee;
      4.   A requirement that if the arrangement includes charges for licensing the vehicle with the commission, the arrangement must provide an itemized explanation of the costs associated with such licensing, to include the amount of any fee imposed by the commission; and
      5.   Requiring that arrangements provide notice of appropriate mechanisms for reporting complaints regarding overcharges.
   b.   The commission may deny an application for a license for a vehicle subject to a leasing, rental, lease-to-own or conditional purchase arrangement if such leasing, rental, lease-to-own or conditional purchase arrangement does not comply with the rules of the commission.
   c.   Requirements imposed by the rules promulgated pursuant to this section shall apply only to leasing, rental, lease-to-own and conditional purchase arrangements executed after the effective date of the local law that added this section.
(L.L. 2019/043, 2/24/2019, eff. 8/23/2019)
§ 19-554 Dismissal of vehicle lights violation upon proof of correction.
   a.   Definitions. For purposes of this section, the following terms have the following meanings:
      Business day. The term "business day" means any calendar day, as such term is defined in section 19 of the general construction law, except Saturday, Sunday or a public holiday, as such term is defined in section 24 of the general construction law.
      OATH. The term "OATH" means the office of administrative trials and hearings.
      State. The term "state" means the state of New York.
      Summons. The term "summons" means a document, including a notice of violation, issued by any agency authorized to issue notices of violation returnable to the tribunal that specifies the charges forming the basis of an adjudicatory proceeding before the tribunal.
      Tribunal. The term "tribunal" means the OATH hearings division.
   b.   The tribunal shall dismiss a violation issued to a driver or an owner of a vehicle for failing to personally inspect and reasonably determine the good working order of the lights of such vehicle pursuant to subdivision b of section 80-22 of title 35 of the rules of the city of New York or any successor provision when: (i) such driver or owner corrects such violation not later than one-half hour after sunset on the first full business day after the date of the violation as specified on the summons, (ii) such driver or owner provides to the commission, on or before the return date of such summons, a copy of such summons, any of the forms of proof of such correction listed in subdivision c of this section and an affirmation under penalty of perjury that such correction was made and (iii) the commission, upon inspection of such proof of correction, determines that such driver or owner corrected the violation and recommends that the tribunal dismiss the violation. Should the commission not recommend dismissal of such violation, such driver or owner may provide any of the forms of proof of correction described in subdivision c of this section at a hearing of the tribunal.
   c.   The following constitute proof of correction pursuant to subdivision b of this section:
      1.   A statement of correction from an official inspection station licensed pursuant to section 303 of the vehicle and traffic law, duly executed by the person who made such correction and bearing the facility number of the official inspection station;
      2.   A statement of correction from an automobile repair shop on its letterhead, duly executed by the person who made such correction;
      3.   A statement of correction from a person administering a fleet, as such term is defined in section 51-03 of title 35 of the rules of the city of New York or any successor provision, duly executed by the person who made such correction and countersigned by the fleet maintenance supervisor;
      4.   A signed statement of any police officer that the necessary correction has been made; or
      5.   Evidence acceptable to the commission from any person that such person made the correction together with proof of purchase of any equipment needed to make such correction.
(L.L. 2020/033, 2/23/2020, eff. 8/21/2020)
§ 19-555 Office of financial stability.
   a.   The commission shall establish an office of financial stability. Such office shall monitor and evaluate the financial stability of the taxicab industry. In conducting such monitoring and evaluation, the office shall consider, at a minimum:
      1.   The long- and short-term financial stability of the market for taxicab licenses;
      2.   The method for calculating the minimum bid price for taxicab licenses for any license auction planned for the following year;
      3.   Potential market manipulation, speculation, or collusion by any participant in a taxicab license auction or transfer or any other business licensed by the commission relating to taxicabs, including, but not limited to brokers and agents;
      4.   The number of bankruptcy proceedings involving taxicab licensees;
      5.   Common terms and conditions of loans used to finance a taxicab license purchase or transfer, including the number of loans that did not require a down payment, utilized interest-only payments, or included a confession of judgment;
      6.   The annual financial disclosures from each person who has any interest in any taxicab license; and
      7.   Income and expenses associated with operating a taxicab.
   b.   Beginning November 1, 2021 and no later than every November 1 thereafter, the office shall submit to the speaker of the council and the mayor and post on the commission's website, a report including, but not limited to, details of the office's activities pursuant to subdivision a of this section conducted during the prior calendar year, an assessment of the financial stability of the taxicab industry, and any recommendations regarding the financial stability of the taxicab industry.
   c.   The office shall also transmit the report required by subdivision b to the department of investigation. The department of investigation shall consider such report and determine whether to conduct additional investigation of any issue reported by the office.
(L.L. 2020/111, 11/15/2020, eff. 3/15/2021)
§ 19-556 Annual financial disclosure.
   a.   Each natural person who is a taxicab license owner, agent, member of a partnership owning one or more taxicab licenses, or shareholder, director or officer of any corporation owning one or more taxicab license shall annually complete and file with the commission a financial disclosure statement, executed under oath, on a form provided by the commission or in such format and manner as otherwise specified by the commission. Such financial disclosure statement shall include:
      1.   Each taxicab license in which such natural person has a financial interest;
      2.   Whether such financial interest reflects the interest of an owner, agent, member of a partnership, shareholder, director, or officer;
      3.   Any other licenses issued by the commission that are held by such natural person and any other licenses issued by the commission in which such natural person has an interest;
      4.   Such natural person's gross income from taxicab operations in the prior calendar year;
      5.   Such natural person's gross expenses related to taxicab operations in the prior calendar year;
      6.   The total amount of taxicab liability insurance premiums paid by such natural person in the prior calendar year, and where such natural person is a member of a partnership owning one or more taxicab licenses, or shareholder, director or officer of any corporation owning one or more taxicab license, the total amount of taxicab liability insurance premiums paid by such partnership or corporation;
      7.   The outstanding balances of all loans secured by taxicab licenses in which such natural person has an interest as of December 31 of the prior calendar year;
      8.   The number of taxicab licenses in which such natural person has an interest that serve as collateral for a secured loan;
      9.   The number of taxicab licenses in which such natural person has an interest that do not serve as collateral for a secured loan;
      10.   Any other interests such natural person has in any taxi, livery, or for-hire vehicle business, whether or not licensed by the commission; and
      11.   Any other information the commission determines is relevant to such natural person's finances.
   b.   Such financial disclosure statements shall include all attachments and documentation required by the commission.
(L.L. 2020/109, 11/15/2020, eff. 3/15/2021)