6. [ Maintenance of accounts by Money Lender and supply of statements these of to borrower. [Substituted by Assam Act No. 18 of 1969, dated 27.8.1969.]
(1)Every Money Lender shall -(a)Regularly maintain an account for each borrower separately of all transactions with dates and places of such transactions in respect of any loan advanced to that borrower ;(b)Furnish such borrower every year with a legible statement of accounts in the prescribed manner signed by the money-lender or his authorised agent of any balance of amounts shall include all transactions in respect of the loan entered into during the year to which the statement relates.(2)The account required under clause (a) of sub-section (1) shall be so maintained that items due by way of interest shall be shown as separate and distinct from the principal sum and separate totals of principal and interest shall be shown. The money-lender shall not include the interest or any portion of it in the principal sum, and the principal and interest shall be separately shown in the opening balance of each new annual account :Provided that -(i)If the loan has, since it was originally advanced, passed by inheritance of assignment to a widow or minor, such widow or minor shall not be bound to maintain and furnish the account under sub-section (1) for a period of two years from the date of such passing ;(ii)Nothing in this section shall be deemed to lay upon any person the duty of maintaining and furnishing the account under sub-section (1) in the case of a loan wherein the title to recover is sub-judice between two or more persons claiming as money-lenders adversely to each other unless and until the title has been finally decided by a court of competent jurisdiction.]
