§4041. Definitions

Link to law: http://legislature.vermont.gov/statutes/section/09/105/04041
Published: 2015

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The Vermont Statutes Online



Title

09

:
Commerce and Trade






Chapter

105

:
CREDIT CARDS











 

§

4041. Definitions

As used in this

chapter:

(1) As used

herein, the term "person" shall include a natural person, a firm, an

association, and a corporation, and any officer, employee or agent thereof.

(2)

"Cardholder" means any person to whom a credit card is issued and any

person who has agreed with the card issuer to pay obligations arising from the

issuance of a credit card to another person.

(3) "Card

issuer" means any person who issues a credit card.

(4) "Credit

card" means any instrument, whether known as credit card, credit plate,

charge plate, or any other name, which purports to evidence an undertaking to

pay for property, labor, services or delinquent taxes paid, delivered, or

rendered to or upon the order of persons designated or otherwise authorized as

bearers of such card, and includes bank credit cards as defined in 8 V.S.A.§

1301(b).

(5)

"Accepted credit card" means any credit card which the cardholder has

signed or has used, or authorized another to use, for the purpose of obtaining

money, property, labor, services, or payment of delinquent taxes on credit, and

also the term includes a credit card issued in replacement or renewal of an

accepted credit card.

(6)

"Unauthorized use" means a use of a credit card to obtain money,

property, labor, services, or payment of delinquent taxes by a person other

than the cardholder who does not have actual, implied, or apparent authority

for such use.

(7) "Notice

of loss instructions" shall be a separate slip or card, or a provision

clearly printed in bold type in a cardholder agreement or accompanying material

which shall apprise cardholder of the potential liability for unauthorized use,

shall designate the address and telephone number of an office or offices of

issuer to which adequate notice of loss may be given, and which shall contain a

blank space for the cardholder to insert his or her account number, which space

shall be identified to invite such insertion.

(8)

"Adequate notice of loss" shall be an actual notice of loss or theft

or of unauthorized use of the card to a designated office of issuer which may

be by mail, telephone, telegraph, or in person. (Added 1969, No. 221 (Adj.

Sess.), § 1; amended 1987, No. 278 (Adj. Sess.), § 12, eff. June 21, 1988.)
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