California Civil Code

§ 1810.3

CIV § 1810.3 Effective Jan 1, 1997Div. 3 · Title 2 · Part 4 · Ch. 1 · Art. 10

Statute text

(a)Except in the case of an account which the seller deems to be uncollectible or with respect to which delinquency collection procedures have been instituted, the seller of any retail installment account shall mail or deliver to the buyer for each billing cycle at the end of which there is an outstanding debit balance in excess of one dollar ($1) in that account or with respect to which a finance charge is imposed, a statement or statements which the buyer may retain, setting forth in accordance with subdivision (c) each of the following items to the extent applicable:

(1)The outstanding balance in the account at the beginning of the billing cycle, using the term “previous balance.”

(2)The amount and date of each extension of credit or the date the extension of credit is debited to the account during the billing cycle and, unless previously furnished, a brief identification of any goods or services purchased or other extension of credit.

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Legislative history

Amended by Stats. 1996, Ch. 762, Sec. 1. Effective January 1, 1997.