New York General Business Law Article 34-A - CONSUMER CREDIT BALANCES

• 710 - Definitions.
  Whenever used in this article: 1. "Consumer" means a natural person. 2. "Creditor" means a person, partnership, corporation, association or other entity who, in the...
• 711 - Transfer of Credit Balances Prohibited.
  No creditor shall write-off, delete or transfer any credit balance greater than one dollar from a consumer credit account except to the extent that the...
• 712 - Mailing of Statements of Credit Account Balances.
  Each creditor shall provide every holder of a consumer credit account with a statement setting forth any credit balance greater than one dollar at the...
• 713 - Required Notice in Credit Account Statements; Refund of Balances.
  1. Every statement reflecting a credit balance in favor of the consumer shall contain a clear and conspicuous notice stating the right of the consumer...
• 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...
• 715 - Disposition of Unclaimed Credit Balances.
  In the event the creditor, after due diligence, cannot locate a consumer to make a credit balance refund pursuant to this article, such money shall...
• 716 - Violations and Penalties.
  Whenever there shall be a violation of this section, an application may be made by the attorney general in the name of the people of...

Last modified: February 3, 2019