15 U.S.C. § 1693j — Suspension of obligations

FEDERAL · 15 U.S.C. · Chapter 41

Suspension of obligations

Current through Pub. L. 119-102

Title 15 — Commerce and Trade·Ch. 41 — CONSUMER CREDIT PROTECTION·Subch. VI

If a system malfunction prevents the effectuation of an electronic fund transfer initiated by a consumer to another person, and such other person has agreed to accept payment by such means, the consumer's obligation to the other person shall be suspended until the malfunction is corrected and the electronic fund transfer may be completed, unless such other person has subsequently, by written request, demanded payment by means other than an electronic fund transfer.

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If a system malfunction prevents the effectuation of an electronic fund transfer initiated by a consumer to another person, and such other person has agreed to accept payment by such means, the consumer's obligation to the other person shall be suspended until the malfunction is corrected and the electronic fund transfer may be completed, unless such other person has subsequently, by written request, demanded payment by means other than an electronic fund transfer.

15 U.S.C. § 1693j (Suspension of obligations) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

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History

(Pub. L. 90–321, title IX, §912, as added Pub. L. 95–630, title XX, §2001, Nov. 10, 1978, 92 Stat. 3737.)

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History