N.Y. GBS. LAW § 711 : NY Code - Section 711: Transfer of credit balances prohibited

Search N.Y. GBS. LAW § 711 : NY Code - Section 711: Transfer of credit balances prohibited

No creditor shall
  write-off, delete or transfer any credit balance greater than one dollar
  from a consumer credit account except to the extent  that  the  consumer
  has  either  received  a  cash  refund  or  made  offsetting  purchases.
  Provided, however, that nothing herein shall prevent the  creditor  from
  deleting a credit balance created through an error.