New York § 407 - 407Statements of account; receipts
Full text of New York New York Consolidated Laws § 407 — 407Statements of account; receipts, with citation guidance and answers to common questions.
§ 407. 407Statements of account; receipts
§ 407. Statements of account; receipts. At any time after its execution, but not later than one year after the last payment thereunder, the holder of a contract or obligation shall, upon written request of the buyer, give or forward to the buyer a written statement of the dates and amounts of payments and the total amount, if any, unpaid thereunder. Such a statement shall be supplied by the holder once each year without charge; if any additional statement is requested by the buyer, the holder shall supply such statement to the buyer at a charge not exceeding one dollar for each additional statement supplied to the buyer. A buyer shall be given a receipt for any payment when made in cash.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 407
What does New York Consolidated Laws § 407 cover?
Section 407 ("407Statements of account; receipts") is part of the New York Consolidated Laws, the codified statutory law of New York. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New York § 407?
A common citation format is "New York Consolidated Laws § 407" (New York). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New York law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New York official source linked on this page or consult a licensed New York attorney.
How does New York § 407 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New York can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New York.