Search OpenLegislation Statutes

This entry was published on 2014-09-22
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
Automatic refund of credit balances
General Business (GBS) CHAPTER 20, ARTICLE 34-A
§ 714. Automatic refund of credit balances. Where a credit balance
greater than one dollar exists, and where no purchases, payments or
other transactions (other than the imposition of service, membership or
other administrative charges) occur with respect to a consumer credit
account for six consecutive billing cycles, the creditor shall refund
the full amount of such credit balance by cash or check within thirty
days after the end of such period of inactivity.