N.Y. UCC Law § 2-A-109
This is the official text of N.Y. UCC Law § 2-A-109, part of New York’s UCC Law — part of the compiled statutory law of New York, published by the state as "UCC Law." Browse the sections below, each linked to its official government source.
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Option to Accelerate at Will
Official statutory text
Section 2-A-109. Option to Accelerate at Will.\n (1) A term providing that one party or his or her successor in\ninterest may accelerate payment or performance or require collateral or\nadditional collateral "at will" or "when he or she deems himself or\nherself insecure" or in words of similar import must be construed to\nmean that he or she has power to do so only if he or she in good faith\nbelieves that the prospect of payment or performance is impaired.\n (2) With respect to a consumer lease, the burden of establishing good\nfaith under subsection (1) is on the party who exercised the power;\notherwise the burden of establishing lack of good faith is on the party\nagainst whom the power has been exercised.\n
Status: in_force · Read it on the official government site
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