550.03 BIANNUAL STATEMENTS FURNISHED TO VENDEE.

   Every vendor under a land installment contract shall, at least once a year, or on demand of the vendee, but no more than twice a year, furnish a statement to the vendee showing the following;

   (a)   The amount credited to principal and interest;

   (b)   The balance due. A land contract passbook issued by the vendor or a financial institution shall be sufficient compliance with this section.

      (Ord. 19-07. Passed 2-6-19.)