P-40.1 - Consumer Protection Act

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254. Any sum of money received by a merchant from a consumer before the making of a contract shall be transferred in trust. The merchant is the trustee of the sum, and must deposit it in a trust account until the sum is repaid to the consumer on demand or until the contract is made.
1978, c. 9, s. 254; 1999, c. 40, s. 234.
254. Every merchant who receives a sum of money from a consumer before the making of a contract must place that sum in a trust account until the sum is repaid to the consumer on demand, or the contract is made.
1978, c. 9, s. 254.