753

(a) The holder shall furnish to the buyer at least once a year, free of charge, and should the latter so request, a statement of account containing the following information:(1) The annual percentage rate of the finance charges;(2) the initial principal;(3) the dates and amounts of the payments made;(4) the total of payments credited;(5) the present balance owed;(6) the date or period of time within which the payments shall be made to avoid late charges, and(7) any other information required by regulations as necessary to keep the buyer informed on the terms and conditions under which credit has been granted.(b) [Repealed. Act Aug. 15, 1999, No. 258, eff. 30 days after Aug. 15, 1999.] History —June 19, 1964, No. 68, p. 192, § 2013; May 14, 1968, No. 43, p. 66, § 3; renumbered as § 213 and amended on May 31, 1972, No. 78, p. 171, § 9; May 31, 1973, No. 69, p. 310, § 5; Dec. 23, 1998, No. 310, § 7; Aug. 15, 1999, No. 258, § 3, eff. 30 days after Aug. 15, 1999.