P-40.1 - Consumer Protection Act

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255. Any sum of money collected from a consumer by a merchant under a contract contemplated in section 56 shall be transferred in trust. The merchant is the trustee of the sum and must deposit it in a trust account until the time provided in section 59 has expired or until the contract is cancelled by virtue of section 59.
1978, c. 9, s. 255; 1999, c. 40, s. 234.
255. Every merchant who collects a sum of money from a consumer under a contract contemplated in section 56 must place that sum in a trust account until the delay provided in section 59 has expired or the contract is dissolved by virtue of section 59.
1978, c. 9, s. 255.