§ 101-aa. Terms of sale. 1. As used in this section:\n a. "Credit period" means a period beginning on the date alcoholic\nbeverages are delivered and ending thirty days thereafter.\n b. "payment period" means the period beginning on the date alcoholic\nbeverages are delivered and ending on the thirtieth day following the\ndate on which alcoholic beverages are delivered.\n c. "Final payment date" means the last day of a payment period.\n d. "Notification date" means, notwithstanding section twenty-five of\nthe general construction law, for deliveries on:\n (i) Monday, the Monday immediately following a final payment date;\n (ii) Tuesday, the Tuesday immediately following the final payment\ndate;\n (iii) Wednesday, the Wednesday immediately following the final payment\ndate;\n (iv) Thursday, the Thursday immediately following the final payment\ndate;\n (v) Friday, the Friday immediately following the final payment date.\n e. "Retail licensee" means a person licensed to sell liquor and/or\nwine at retail for on-premise consumption or for off-premise consumption\n(including a person holding a permit granted by the authority pursuant\nto subdivision six of section sixty-four of this chapter).\n f. "Cash" means and includes currency and coin of the United States of\nAmerica, certified check, money order, electronic funds transfer, bank\nofficer's check or draft, or a check drawn on the account of the retail\nlicensee payable to the manufacturer or wholesaler and dated no later\nthan the date of delivery of the alcoholic beverages and which is\nhonored upon presentment for payment, provided, however, that if any\ncheck or other instrument described herein tendered by a retail licensee\non the delinquent list is not honored upon presentment for payment, the\nlicense of such retail licensee may be suspended for not more than\nfifteen days for the first offense, and not more than sixty days for a\nsubsequent offense, which penalty shall be in addition to the penalty\nprovided for by the provisions of subdivision six of this section, and\nprovided further, that nothing herein contained shall require a\nmanufacturer or wholesaler to accept a check tendered by or drawn on the\naccount of a retail licensee on the delinquent list unless the same has\nbeen certified.\n 2. No manufacturer or wholesaler licensed under this chapter shall\nsell or deliver any liquor or wine to any retail licensee except as\nprovided for in this section:\n (a) for cash to be paid at the time of delivery; or\n (b) on terms requiring payment by such retail licensee for such\nalcoholic beverages on or before the final payment date of the credit\nperiod for which delivery is made.\n 3. Each such manufacturer and wholesaler is hereby required, on or\nbefore the respective notification dates for each retail license, to\ngive written notice of default, by first class mail, to all such\nlicensees therein who have failed to make payment to him or her on or\nbefore their final payment date for alcoholic beverages sold or\ndelivered to them during a credit period ending on their final payment\ndate. No retail licensee shall be placed in default if the wholesaler\nhas issued an account credit to the licensee, which after application to\nall debts owed by the retail licensee, is equal to or greater than the\namount of the default. Any such retail licensee receiving such notice\nshall not thereafter purchase alcoholic beverages except for cash until\nsuch time as the authority determines that his or her name shall not be\npublished on the delinquent list as provided in subdivision four of this\nsection, or until such time as the authority permits sales or deliveries\nto him or her as provided in subdivision five of this section. Each such\nmanufacturer and wholesaler is hereby required to file with the\nauthority, on or before each notification date, copies of the notices\nsent by him or her to all delinquent retail licensees as required in\nthis subdivision, and
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