No retail installment contract or retail charge account or separate instruments executed in connection therewith shall contain any provision relieving the retail seller from liability for any legal remedies which the retail buyer may have against the retail seller under the contract or account and any such provision shall be void and unenforceable.

L.1960, c. 40, p. 156, s. 38. Amended by L.1971, c. 409, s. 9.