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P-40.1 - Consumer Protection Act

Section 124
Disposition versions

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124. A consumer who has entered into a preauthorized payment agreement with a merchant under which payments are made out of credit obtained under a credit card contract may end the agreement at any time by sending a notice to the merchant.
On receipt of the notice, the merchant must cease to collect the preauthorized payments.
On receipt of a copy of the notice, the card issuer must cease debiting the consumer’s account to make payments to the merchant.
1978, c. 9, s. 124; 2017, c. 24, s. 29.
124. Even where such notice is not given, the liability of the consumer whose credit card is lost or stolen is limited to the sum of $50.
1978, c. 9, s. 124.
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