2015 New York Laws
GBS - General Business
Article 34-A - (General Business) CONSUMER CREDIT BALANCES
714 - Automatic refund of credit balances.
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.
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