The Vermont Statutes Online
Commerce and Trade
As used in this
(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.
"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.
issuer" means any person who issues a credit card.
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.§
"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.
"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.
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.
"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.)