N.Y. GBS Law § 714
This is the official text of N.Y. GBS Law § 714, part of New York’s GBS Law — part of the compiled statutory law of New York, published by the state as "GBS Law." Browse the sections below, each linked to its official government source.
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Automatic refund of credit balances
Official statutory text
§ 714. Automatic refund of credit balances. Where a credit balance\ngreater than one dollar exists, and where no purchases, payments or\nother transactions (other than the imposition of service, membership or\nother administrative charges) occur with respect to a consumer credit\naccount for six consecutive billing cycles, the creditor shall refund\nthe full amount of such credit balance by cash or check within thirty\ndays after the end of such period of inactivity.\n
Status: in_force · Read it on the official government site
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