Connecticut § 36a-782 (Formerly Sec. 42-95). Cancellation of contract on payment in full.

Connecticut Statutes

§ 36a-782 — (Formerly Sec. 42-95). Cancellation of contract on payment in full.

Connecticut·Title 36a The Banking Law of Connecticut·Ch. 669 Regulated Activities

Upon payment in full of the balance and other amounts lawfully due under a retail installment contract or installment loan contract by the retail buyer, the holder shall mark the contract and note signed by the retail buyer with the word “paid” or “cancelled” and shall, at the time of payment, return such contract and note or, in lieu thereof, transmit or deliver to the retail buyer a certificate clearly identifying the goods covered by the contract and showing such contract has been paid in full. This requirement shall not apply to any retail installment contract or installment loan contract covering goods for which the cash price is one hundred dollars or less. See Sec. 42a-9-203 re attachment and enforceability of security interests.

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Upon payment in full of the balance and other amounts lawfully due under a retail installment contract or installment loan contract by the retail buyer, the holder shall mark the contract and note signed by the retail buyer with the word “paid” or “cancelled” and shall, at the time of payment, return such contract and note or, in lieu thereof, transmit or deliver to the retail buyer a certificate clearly identifying the goods covered by the contract and showing such contract has been paid in full. This requirement shall not apply to any retail installment contract or installment loan contract covering goods for which the cash price is one hundred dollars or less. See Sec. 42a-9-203 re attachment and enforceability of security interests.

Connecticut § 36a-782 ((Formerly Sec. 42-95). Cancellation of contract on payment in full.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.