N.Y. General Business Law Section 714
Automatic refund of credit balances

Where a credit balance greater than one dollar exists, and where no purchases, payments or other transactions (other than the imposition of service, membership or other administrative charges) occur with respect to a consumer credit account for six consecutive billing cycles, the creditor shall refund the full amount of such credit balance by cash or check within thirty days after the end of such period of inactivity.

Source: Section 714 — Automatic refund of credit balances, https://www.­nysenate.­gov/legislation/laws/GBS/714 (updated Sep. 22, 2014; accessed Nov. 1, 2025).

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Nov. 1, 2025

Last modified:
Sep. 22, 2014

§ 714. Automatic refund of credit balances's source at nysenate​.gov

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