Section 12-510 - Failure to answer status inquiry.
§ 12-510. Failure to answer status inquiry.
If a buyer inquires in writing about the status of his account and the holder fails to answer the inquiry in clear and definite terms within 60 days after receiving it, the buyer is not required to pay a finance charge for that 60-day period or for any further period during which the holder fails to so answer.
[An. Code 1957, art. 83, § 153C; 1975, ch. 49, § 3.]