N.Y. FIS Law § 808

§ 808. Disclosure requirements for renewal financing. If, as a\ncondition of obtaining the commercial financing, the provider requires\nthe recipient to pay off the balance of an existing commercial financing\nfrom the same provider, the provider must disclose:\n (a) The amount of the new commercial financing that is used to pay off\nthe portion of the existing commercial financing that consists of\nprepayment charges required to be paid and any unpaid interest expense\nthat was not forgiven at the time of renewal. For financing for which\nthe total repayment amount is calculated as a fixed amount, the\nprepayment charge is equal to the original finance charge multiplied by\nthe amount of the renewal used to pay off existing financing as a\npercentage of the total repayment amount, minus any portion of the total\nrepayment amount forgiven by the provider at the time of prepayment. If\nthe amount is more than zero, such amount shall be the answer to the\nfollowing question:\n "Does the renewal financing include any amount that is used to pay\nunpaid finance charge or fees, also known as double dipping? Yes, {enter\namount}. If the amount is zero, the answer would be No."\n (b) If the disbursement amount will be reduced to pay down any unpaid\nportion of the outstanding balance, the actual dollar amount by which\nsuch disbursement amount will be reduced.\n