Clarifies budget planning prohibitions and allows the attorney general to seek injunctions against violations.

New York Assembly Bill A04328 amends the general business law to clarify certain provisions related to the prohibition on budget planning. It defines budget planning as making a contract to distribute payments to creditors, excluding legal advice under the U.S. Bankruptcy Code. The bill also allows the attorney general to apply for an order to enjoin or restrain commission or continuance of violations, with potential civil penalties and restitution for unlicensed budget planners. This act takes effect 90 days after becoming law.

Clarifies budget planning prohibitions and allows the attorney general to seek injunctions against violations.

New York Assembly Bill A04328 amends the general business law to clarify certain provisions related to the prohibition on budget planning. It defines budget planning as making a contract to distribute payments to creditors, excluding legal advice under the U.S. Bankruptcy Code. The bill also allows the attorney general to apply for an order to enjoin or restrain commission or continuance of violations, with potential civil penalties and restitution for unlicensed budget planners. This act takes effect 90 days after becoming law.