New York § 573 Statement of account; receipts

New York Statutes

§ 573 — Statement of account; receipts

New York § 573

Law BNKBanking

Art. 12-BInsurance Premium Finance Agencies

This text of New York § 573 (Statement of account; receipts) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Banking § 573 (2026).

Text

§ 573. Statement of account; receipts.

1.At any time after its\nexecution, but not later than one year after the last payment\nthereunder, a premium finance agency holding a premium finance agreement\nshall, upon written request of the insured, give or mail to him a\nwritten statement of the dates and amounts of payments and the total\namount, if any, unpaid thereunder. Such a statement shall be supplied\nonce each year without charge; if any additional statement is requested\nthe premium finance agency shall supply such statement at a charge not\nexceeding one dollar for each additional statement so supplied. An\ninsured shall be given a receipt for a payment when made in cash.\n 2. After the payment of all sums for which an insured is obligated\nunder a premium finance agreement, and

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§ 573. Statement of account; receipts. 1. At any time after its\nexecution, but not later than one year after the last payment\nthereunder, a premium finance agency holding a premium finance agreement\nshall, upon written request of the insured, give or mail to him a\nwritten statement of the dates and amounts of payments and the total\namount, if any, unpaid thereunder. Such a statement shall be supplied\nonce each year without charge; if any additional statement is requested\nthe premium finance agency shall supply such statement at a charge not\nexceeding one dollar for each additional statement so supplied. An\ninsured shall be given a receipt for a payment when made in cash.\n 2. After the payment of all sums for which an insured is obligated\nunder a premium finance agreement, and upon his written demand, the\npremium finance agency holding the agreement shall deliver, or mail to\nthe insured at his last known address such one or more good and\nsufficient instruments as may be necessary to acknowledge payment in\nfull and to release all interests in or rights to the insurance\ncontracts, the premiums for which are advanced or are to be advanced\nunder the agreement.\n