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MERRILL LYNCH, PIERCE, FENNER & SMITH, INC. v. DeCHAINE

194 A.D.2d 472 (1993)

600 N.Y.S.2d 459

Merrill Lynch, Pierce, Fenner & Smith, Inc., et al., Respondents, v. Ray J. Dechaine, Appellant

Appellate Division of the Supreme Court of the State of New York, First Department.

June 24, 1993

The interpretation that has been given section 15 of the National Association of Securities Dealers Code of Arbitration Procedure — that such is not a statute of limitations but a substantive eligibility requirement limiting the range of disputes the parties agreed to arbitrate (Matter of Prudential Bache Sec. v Archard, 179 A.D.2d 652, lv denied 80 N.Y.2d 754) — should be adopted for the identically worded rule...

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