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P-40.1 - Consumer Protection Act

Section 255
Disposition versions

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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 cancellation period provided for in the first paragraph of section 59 has expired or until the contract is cancelled under that paragraph.
1978, c. 9, s. 255; 1999, c. 40, s. 234; 2017, c. 24, s. 60.
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.
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