§ 24 — Guaranty of obligations of other persons; notice of additional obligations

Massachusetts § 24

• Jurisdiction: Massachusetts
• Part I: ADMINISTRATION OF THE GOVERNMENT
• Title XX: PUBLIC SAFETY AND GOOD ORDER
• Ch. 140D: CONSUMER CREDIT COST DISCLOSURE

Text

Section 24. No person who executes a guaranty of the obligations of another in connection with an application by such other person for an open-end-credit plan or for an extension of credit other than an open-end-credit plan shall be liable as a result of such guaranty for an obligation not arising under such plan or extension of credit unless such person has been notified of such additional obligation in advance.