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The Laws of New York
Consolidated Laws of New York
CHAPTER 20
General Business
ARTICLE 34-A
Consumer Credit Balances
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SECTION 710
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ARTICLE 34-A
Consumer Credit Balances
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SECTION 712
Mailing of statements of credit account balances
This entry was published on 2014-09-22
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SECTION 711
Transfer of credit balances prohibited
General Business (GBS) CHAPTER 20, ARTICLE 34-A
§ 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 consumer
has either received a cash refund or made offsetting purchases.
Provided, however, that nothing herein shall prevent the creditor from
deleting a credit balance created through an error.