HERBERT R. O'CONOR, GOVERNOR. 1507

(2) a statement showing the amount due on the agreement
immediately previous to the new purchase, the amount due
after the new purchase, the payments agreed to be made there-
after, and the number of additional months required to com-
plete the payments.

(b) Whenever a payment is made on such a continuing agree-
ment after additional purchases have been added, the payment
shall be considered as allocated among each of the separate
purchases included, in the same proportion which the original
cash price of each bears to the total cash price of all goods to
which the seller has retained title, but the seller before re-
possessing or attempting to repossess any goods under any such
agreement shall actually allocate in such manner all such pay-
ments made to him by the buyer. When the amount owing
on any separate purchase has been fully paid, the goods so
paid for shall become the absolute property of the buyer and
shall not be subject to repossession for any subsequent default
on the agreement. The buyer under any such agreement may
at any time prepay the amount due on any of the separate pur-
chases pursuant to Section 120, and in case of repossession may
redeem any of such separate purchases by payment of the
amount due on such purchase alone.

120. Prepayments. Notwithstanding the provisions of any
agreement to the contrary, a buyer may at any time prepay
all or any part of the unpaid time balance to become payable
under an instalment sale agreement. If the buyer pays the
time balance in full before maturity, the holder shall forth-
with refund to him a portion of the finance charge. The
amount of such refund shall be calculated by either of the fol-
lowing two methods:

(1) the amount of the refund shall represent at least as
great a proportion of the total finance charge as the sum of
the periodical time balances after the date of prepayment bears
to the sum of all the periodical time balances, under the
schedule of payments in the original agreement; or

(2) the amount of the finance charge shall be divided by the
number of months originally provided for the payment of the
time balance under the agreement. This figure shall then be
multiplied by the number of months by which the payment of
the time balance has been anticipated by the buyer, and the re-
sult so obtained shall be the amount of the refund to which the
buyer shall be entitled.

Where the amount of the credit for anticipation of payment
is less than $1. 00, no refund need be made.

121. Statements. At any time after execution of the agree-
ment but not later than one year after the last payment has
been made under an instalment agreement, the holder shall,