P-40.1 - Consumer Protection Act

Section 115.2 Disposition versions

2019-08-01

115.2. Unless the merchant invoked a clause of forfeiture of benefit of the term or exercised a hypothecary right, the merchant must, at least 21 days before the end of the term of a contract for the loan of money secured by an immovable hypothec, give notice in writing to the consumer of whether or not the merchant intends to renew the contract.

If the merchant intends to renew the contract, the notice must contain the information required under subparagraphs a, d and g of the first paragraph of section 115. If the notice is late, the consumer’s rights and obligations under the original contract continue to apply until 21 days after the consumer receives the notice.

2017, c. 24, s. 23.

Not in force

In force: 2019-08-01

115.2. Unless the merchant invoked a clause of forfeiture of benefit of the term or exercised a hypothecary right, the merchant must, at least 21 days before the end of the term of a contract for the loan of money secured by an immovable hypothec, give notice in writing to the consumer of whether or not the merchant intends to renew the contract.

If the merchant intends to renew the contract, the notice must contain the information required under subparagraphs a, d and g of the first paragraph of section 115. If the notice is late, the consumer’s rights and obligations under the original contract continue to apply until 21 days after the consumer receives the notice.

2017, c. 24, s. 23.