New York § 714 - 714Automatic refund of credit balances
Full text of New York New York Consolidated Laws § 714 — 714Automatic refund of credit balances, with citation guidance and answers to common questions.
§ 714. 714Automatic refund of credit balances
§ 714. Automatic refund of credit balances. Where a credit balance greater than one dollar exists, and where no purchases, payments or other transactions (other than the imposition of service, membership or other administrative charges) occur with respect to a consumer credit account for six consecutive billing cycles, the creditor shall refund the full amount of such credit balance by cash or check within thirty days after the end of such period of inactivity.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 714
What does New York Consolidated Laws § 714 cover?
Section 714 ("714Automatic refund of credit balances") 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 § 714?
A common citation format is "New York Consolidated Laws § 714" (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 § 714 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.