6.1-330.77:1 - (Repealed effective October 1, 2010) Charge on open accounts - Virginia Statutes

§ 6.1-330.77:1. (Repealed effective October 1, 2010) Charge on open accounts.

In the event of a sale of goods or the provision of services on open accountswhere there is no written agreement for closed end credit under § 6.1-330.77and no open end credit plan under § 6.1-330.78, the seller or provider shallbe entitled to and may collect interest at the rate specified in § 6.1-330.53upon the unpaid balance if the purchaser or recipient of such goods orservices fails to make payment in full within sixty days after mailing orpresentation of a billing statement or invoice. Such interest shall begin toaccrue on the day following such sixty-day period.

(1991, c. 375.)