§ 6.1-330.77:1. Charge on open accounts
In the event of a sale of goods or the provision of services on open accounts where there is no written agreement for closed end credit under § 6.1-330.77 and no open end credit plan under § 6.1-330.78, the seller or provider shall be entitled to and may collect interest at the rate specified in § 6.1-330.53 upon the unpaid balance if the purchaser or recipient of such goods or services fails to make payment in full within sixty days after mailing or presentation of a billing statement or invoice. Such interest shall begin to accrue on the day following such sixty-day period.
(1991, c. 375.)
Sections: Previous 6.1-330.71 6.1-330.72 6.1-330.73 6.1-330.74 6.1-330.75 6.1-330.76 6.1-330.77 6.1-330.77:1 6.1-330.78 6.1-330.78:1 6.1-330.79 6.1-330.80 6.1-330.81 6.1-330.82 6.1-330.83 NextLast modified: April 16, 2009