BMW dealer applied MSD as Down payment?

[jeisensc]

NYS MSD Prohibition

Why I asked where you searched to begin with. If you look at Turner v GMAC (and obviously if you have Westlaw or LN it’s easier to search) Prior to its recent amendment, GOL § 7-101 permitted security deposits to be placed in non-interest bearing accounts. See Stuarco, Inc. v. Slafbro Realty Corp. , 289 N.Y.S.2d 883, 885 (App. Div. 1968). The New York legislature amended Section 7-101 in 1997; it now provides that security deposits of $750 or more pursuant to leases of at least 120 days in…