(1) A consumer may effect the standard termination of an open-end credit agreement free of charge at any time unless the parties have agreed on a period of notice. Such a period may not exceed one month.
(2) If agreed in the relevant credit agreement, the creditor may effect the standard termination of an open-end credit agreement by giving the consumer at least 2 months' notice on paper or on another durable medium.
(3) If agreed in the credit agreement concerned, a creditor may, for objectively justified reasons, terminate a consumer's right to draw down on an open-end credit agreement. The creditor shall inform the consumer of the termination and the reasons for it on paper or on another durable medium, where possible before the termination and at the latest immediately afterwards, unless the provision of that information is prohibited by another law or is contrary to objectives of public policy or public security.