31-1-236. Notice and receipt of payment.
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/mt/title-31/chapter-1/part-2/31-1-236·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
31-1-236 . Notice and receipt of payment.
(1)Upon written request from the buyer, the holder of a retail installment contract shall give or forward to the buyer a written statement of the dates and amounts of payments and the total amount unpaid under the contract. A buyer must be given a written receipt for any payment when made in cash.
(2)After payment of all sums for which the buyer is obligated under a contract, the holder shall deliver or mail to the buyer, at the buyer's last-known address, one or more good and sufficient instruments to acknowledge payment in full and shall release all security in the goods or in any collateral security.