§ 25A-35. Statement of account. - North Carolina Statutes

§25A‑35.  Statement of account.

(a)        One time duringeach 12‑month period following execution of a consumer credit installmentsale contract and when the buyer repays the debt early, the buyer shall beentitled upon request and without charge to a statement of account from theseller. The statement of account shall contain the following informationidentified as such in the statement:

(1)        The itemized amountspaid by or on behalf of the buyer to the date of the statement of account,except that upon early termination of the contract by prepayment or otherwise,the statement shall include itemized charges for expenses of repossession,storage and legal expenses;

(2)        The itemizedamounts, if any, which have become due but remain unpaid, including any chargesfor defaults, expenses of repossession and deferral charges;

(3)        The number ofinstallment payments and the dollar amount of each installment not due butstill to be paid and the remaining period the contract is to run.

(b)        The buyer mayrequest and shall be entitled to additional statements of account but for suchadditional statements the seller may impose a charge of one dollar ($1.00).

(c)        If the buyerrequests information for income tax purposes as to the amount of the financecharges, the seller shall provide such information within 30 days withoutcharge but only once in each calendar year. (1971, c. 796, s. 1.)