§476-23  Credit upon anticipation of
payments.  Notwithstanding any provisions of a credit sale contract to the
contrary, a buyer, upon five days' prior notice to the holder, may satisfy in
full at any time before maturity the debt of the contract and in so satisfying
the debt shall receive a refund credit thereon for such anticipation of
payments, if the finance charge has been paid in advance.  The amount of the
refund shall represent at least as great a proportion of the total finance
charge, less an acquisition cost of $10, as the sum of the periodical time
balances, after the day of prepayment, bears to the sum of all the periodical
time balances under the schedule of payments in the contract.  When the amount
of the credit for anticipation of payments is less than $1, no refund need be
made. [L 1961, c 102, pt of §1; Supp, §201A-20; HRS §476-21; am and ren L 1984,
c 86, pt of §1]