Kansas Statutes 16a-2-508. (UCCC) Conversion to open end credit
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Kansas Statutes 16a-2-508
- Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. Source: OCC
The parties may agree to add the unpaid balance of a consumer credit transaction not made pursuant to open end credit to the consumer’s open end credit account with the creditor. The unpaid balance so added is an amount equal to the amount financed determined according to the provisions on finance charge on refinancing (section 16a-2-504).