Section 13 in The U.P. Regulation Of Money-Lending Act, 1976
13. Duties of a money-lender. -
(1)Every money-lender shall -(a)mention or cause to be mentioned in every document evidencing a loan advanced by him in the course of his money- lending business -(i)the true principal amount; and(ii)his registration number;(b)maintain such accounts, forms and registers as may be prescribed and furnish to Registrar such periodical returns as may be prescribed;(c)issue to the debtor or his agent a receipt attested by at least one witness for every payment made by him; and(d)on payment of the prescribed charges, furnish to the debtor such documents or yearly statements of accounts as may be prescribed.(e)[ give one month notice to the debtor for the recovery of loan and a copy of such notice shall be sent to the Registrar.] [Inserted by U.P. Act No. 13 of 2008](1A)[ Where any information regarding loan is sought by the debtor from the money-lender, the money-lender shall be bound to give such information to the debtor.] [Inserted by U.P. Act No. 13 of 2008](2)A debtor to whom a document or statement of account has been furnished under clause (d), sub-section (1), shall not be bound to acknowledge or deny its correctness, and his failure to do so shall not, by itself, be deemed to be an admission of the correctness thereof.[13A. Duties of debtor. - In case the debtor fails to repay the loan in the stipulated period, the money lender may make an application to the Registrar who may issue necessary directions to the debtor to repay the loan.] [Inserted by U.P Act No. 13 of 2008]
