15 U.S.C. § 1693j — Suspension of obligations
submitted 48 years ago by Pub. L. 90-321 to r/title-15-COMMERCE-AND-TRADE · 73 words · no verdicts yet
This section covers Suspension of obligations. It states the rules and requirements in this section.
If a system malfunction prevents the effectuation of an electronic fund transfer* initiated by a consumer* to another person, and such other person has agreed to accept payment by such means, the consumer’s obligation to the other person must be suspended until the malfunction is corrected and the electronic fund transfer may be completed, unless such other person has subsequently, by written request, demanded payment by means other than an electronic fund transfer.
If a system malfunction prevents the effectuation of an electronic fund transfer* initiated by a consumer* to another person, and such other person has agreed to accept payment by such means, the consumer’s obligation to the other person shall be suspended until the malfunction is corrected and the electronic fund transfer may be completed, unless such other person has subsequently, by written request, demanded payment by means other than an electronic fund transfer.
Source credit: (Pub. L. 90–321, title IX, § 912, as added Pub. L. 95–630, title XX, § 2001, Nov. 10, 1978, 92 Stat. 3737.)
- 1978Enacted · Pub. L. 90-321 · 92 Stat. 3737
A history note hasn’t been published yet. The record shows enactment by Pub. L. 90-321 on 1978-11-10.
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