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Home » US Law » 2022 New York Laws » Consolidated Laws » GBS - General Business » Article 34-A - Consumer Credit Balances » 711 – Transfer of Credit Balances Prohibited.

§ 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.