Sec 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.