44-6005. Periodic statements required
Except where the seller or holder deems an account pursuant to a retail charge
account agreement to be uncollectible or where delinquency collection procedures have
been instituted with respect to such an account, the seller or holder of the account
shall, within a reasonable time after the end of the periodic billing cycle, mail or
deliver to the buyer who is obligated pursuant to the terms of such agreement, for each
billing cycle at the end of which there is an outstanding balance in excess of one dollar
in that account or with respect to which a finance charge is imposed, a statement or
statements which the buyer may retain. A reasonable time after the end of the billing
cycle is presumed to be fifteen days.
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