§ 316. Notice of buyer's redemption rights. The holder of any motor\nvehicle installment contract who repossesses or accepts a voluntary\nsurrender of a motor vehicle pursuant to the provisions of article nine\nof the uniform commercial code, or any contract, shall within\nseventy-two hours of such repossession or surrender, personally deliver\nor mail to the buyer at his last known address a written notice setting\nforth the right of such buyer to redeem such motor vehicle, the dollar\namount necessary to redeem, and the name, address and telephone number\nof the holder from which information may be obtained regarding such\nredemption.\n
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