New York Codes, Rules and Regulations
Title 23 - FINANCIAL SERVICES
Chapter I - Regulations of the Superintendent of Financial Services
Part 600
Section 600.13 - Additional assumptions for factoring transactions
Universal Citation: 600.13 NY Comp Codes Rules and Regs ยง 600.13
Current through Register Vol. 46, No. 52, December 24, 2024
When calculating the required disclosures in accordance with section 600.3 of this Part for factoring transactions, to provide a disclosure based upon a single transaction as described by Financial Services Law section 806, the provider shall assume that it will receive full payment of the legally enforceable claim upon the date that legally enforceable claim becomes due and payable.
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