The use of a revolving credit account by a consumer, or by any person authorized by the consumer, constitutes the consumer's acceptance of the creditor's offer of credit and creates a binding contract on the creditor's terms then in effect. Such terms may be modified in the future as agreed by the parties and subject to the requirements of this article, including, but not limited to, the notice requirements of section 5-3-103.
Source: L. 2000: Entire article R&RE, p. 1222, � 1, effective July 1.
Editor's note: This section is similar to former �� 5-2-417 and 5-3-411, as they existed prior to 2000.
5-3-305. Advance payment to reserve lodging and motor vehicle rental services - notice to consumer required. If a deposit, reservation fee, or other advance payment is to be charged to a revolving credit account for lodging or motor vehicle rental services to be provided in the future in this state, the seller shall not charge such advance payment to the consumer's account without first notifying the consumer, either orally or in writing, and giving the consumer the opportunity to reject the services.
Source: L. 2000: Entire article R&RE, p. 1222, � 1, effective July 1.
Editor's note: This section is similar to former � 5-2-418, as it existed prior to 2000.