(1) In a general-purpose consumer credit agreement, an agreement on a right of termination by the lender is ineffective if a specific contract term was agreed or the termination period is less than two months.
(2) In the event of a corresponding agreement having been made, the lender is entitled to refuse to disburse a general-purpose consumer credit agreement, for an objective reason, where no time is determined for repayment. If the lender intends to exercise this right, they are to notify the borrower of this promptly and inform the borrower of the reasons, where possible prior to, but at the latest promptly after, the exercise of the right. Information with regard to the reasons is not provided insofar this would jeopardise public security or order.
(3) The lender may not terminate a consumer credit agreement, otherwise end it, or demand that it be amended solely by reason of the information provided by the borrower prior to conclusion of the contract having been incomplete, or because the assessment of the borrower’s creditworthiness was not performed properly. Sentence 1 does not apply should the defect of the creditworthiness assessment have been caused by the borrower having knowingly withheld from the lender information relevant to the creditworthiness assessment or having falsified such information.