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P-40 - Consumer Protection Act

Section 22
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22. Variable credit is credit extended in advance by a merchant to a consumer who may avail himself of it, in whole or in part, from time to time, in accordance with the terms and conditions of the contract.
Without restricting the generality of the foregoing, variable credit includes what are commonly called credit cards, credit accounts, budget accounts, revolving credit accounts, marginal credit, credit opening and any arrangement of a similar nature.
1971, c. 74, s. 22.
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