126. At the end of each period, the merchant must furnish the consumer who owes him a debt with a statement of account, mailed not less than 21 days before the date on which the creditor may impose credit charges, if the consumer does not discharge his obligation in full; in the case of an advance of money, these charges may accrue from the date of that advance until the date of payment.
The statement of account must indicate:
(a) the date of the end of the period;
(b) the balance of the account at the end of the preceding period, specifying the portion of the balance which is represented by moneys advanced;
(c) the date, description and value of each transaction debited to the consumer’s account during the period unless the merchant appends a copy of the vouchers to the statement of account;
(d) the date and amount of each payment made or sum credited during the period;
(e) the credit charges required during the period;
(f) the balance of the account at the end of the period;
(g) the minimum payment required for such period; and
(h) the time during which the consumer may discharge his obligation without being required to pay credit charges except on advances of money.
The consumer may require the merchant to send to him without charge a copy of the vouchers for each of the transactions debited to the consumer’s account during the period.
1978, c. 9, s. 126; 1999, c. 40, s. 234.