The Business Council of New York State would like to express its strong support for the aforementioned legislation. This legislation would amend the public health law to require that lienholders of vehicles, vessels and aircraft seized and subject to forfeiture for use in the commission of controlled substance crimes be given notice of such seizure by certified mail; grants lienholders the right to acquire possession of a seized motor vehicle and sell it as repossessed property with surplus proceeds going to the seizing authority.
This proposal would provide the innocent lienholder with notice when one of their vehicles, boats or planes is repossessed in the commission of a crime. With notice the innocent lienholder can then, in turn, be permitted to liquidate their asset and turn over any surplus to the authority who seized the asset. This legislation is needed as more and more localities develop laws and plans to reposes assets of lienholders.
This legislation will provide clarity statewide to all localities to the process by which they must go through when repossessing an asset of a lienholder.
For the above stated reasons The Business Council strongly supports S.3257-A/A.6491-A and asks that it be acted upon favorably.