§ 6314. Acknowledgment of payment in full.
121 words·~1 min read·
/pa/title-12/chapter-63/6314A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 6314. Acknowledgment of payment in full.
Upon a buyer's request and after the payment of all sums for which the buyer is obligated under a closed-end credit agreement or an open-end credit agreement, the holder shall deliver or mail to the buyer at the buyer's last known address an instrument that:
(1)Acknowledges that the obligation of the buyer under the agreement has been paid in full.
(2)Releases all security in the goods under the agreement.
12c6321h
SUBCHAPTER B
CLOSED-END CREDIT AGREEMENTS
Sec.
6321. General rules.
6322. Contents.
6323. Copy of agreement.
6324. Agreement resulting from telephone or mail communications.
6325. Purchase money loan; notice.
6326. Statement to buyer.
6327. Refinancing.
6328. New payment schedule.
6329. Add-on sales.
12c6321s