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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 712
Mailing of statements of credit account balances
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ARTICLE 34-A
Consumer Credit Balances
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SECTION 714
Automatic refund of credit balances
This entry was published on 2014-09-22
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SECTION 713
Required notice in credit account statements; refund of balances
General Business (GBS) CHAPTER 20, ARTICLE 34-A
§ 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 to request and receive a refund of the full credit
balance, together with the address to which such request may be sent.

2. Every creditor shall refund the full credit balance by cash or
check within thirty days of receipt of such request.