Arizona Laws 44-6005. Periodic statements required
Except where the seller or holder deems an account pursuant to a retail charge account agreement to be uncollectible or where delinquency collection procedures have been instituted with respect to such an account, the seller or holder of the account shall, within a reasonable time after the end of the periodic billing cycle, mail or deliver to the buyer who is obligated pursuant to the terms of such agreement, for each billing cycle at the end of which there is an outstanding balance in excess of one dollar in that account or with respect to which a finance charge is imposed, a statement or statements which the buyer may retain. A reasonable time after the end of the billing cycle is presumed to be fifteen days.
Terms Used In Arizona Laws 44-6005
- buyer: means a person who buys goods or services from a retail seller. See Arizona Laws 44-6001
- Holder: means :
(a) The retail seller of goods or services under a retail installment contract or retail charge account agreement. See Arizona Laws 44-6001
- Retail charge account agreement: means an arrangement prescribing the terms of retail installment transactions which may be made from time to time in which a retail buyer purchases goods or services and in which a finance charge or delinquency charge may be computed in relation to the buyer's balance in the account. See Arizona Laws 44-6001
- seller: means a person regularly and principally engaged in the business of selling goods or services to retail buyers. See Arizona Laws 44-6001