N.Y. General Business Law Section 711
Transfer of credit balances prohibited

No creditor shall write-off, delete or transfer any credit balance greater than one dollar from a consumer credit account except to the extent that the consumer has either received a cash refund or made offsetting purchases. Provided, however, that nothing herein shall prevent the creditor from deleting a credit balance created through an error.

Source: Section 711 — Transfer of credit balances prohibited, https://www.­nysenate.­gov/legislation/laws/GBS/711 (updated Sep. 22, 2014; accessed Oct. 26, 2024).

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Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 711’s source at nysenate​.gov

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