2013 Vermont Statutes
Title 09 Commerce and Trade
Chapter 105 CREDIT CARDS
§ 4041 Definitions

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 subsection 1301(b) of Title 8.

(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 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. (1969, No. 221 (Adj. Sess.), 1; amended 1987, No. 278 (Adj. Sess.), 12, eff. June 21, 1988.)