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Can you summarize 47 TNCO Chapter 22?
Commercial Instruments And Transactions > Credit Cards
Short Summary
The provided legal document content pertains to the use and issuance of credit cards in Tennessee. It defines ‘credit card’ and addresses the rules regarding unsolicited credit cards and unauthorized use. It outlines the requirements for assuming liability for a credit card and exercising reasonable care in its use and safekeeping. The document also prohibits the use of credit card information for identification purposes in connection with the sale of goods or services paid by check or the acceptance of a check, except in specific circumstances. It provides remedies for violations of these rules, including the recovery of damages and attorney’s fees. Another document pertains to the termination of credit cards in Tennessee. It governs the rights and obligations of card issuers, cardholders, and card users. The document outlines the process for terminating both multiple-party accounts and single-party accounts, including the delivery of written notice, payment of the current balance, and surrendering of cards. It specifies the effective date of termination and the liability of cardholders for transactions initiated before termination. The document also addresses the records of regularly conducted activity for evidentiary purposes in the context of creditors. It defines the types of records considered as records of the creditor and allows the creditor’s records custodian to testify about them. However, the provision does not apply if the records lack trustworthiness. These records may be submitted as records of regularly conducted activity under Rule 803(6) of the Tennessee Rules of Evidence. No specific penalties or exemptions are mentioned in this document.
Whom does it apply to?
Persons in Tennessee involved in credit card transactions, including card issuers, cardholders, and card users.
What does it govern?
The use and issuance of credit cards, termination of credit cards, and records of regularly conducted activity for evidentiary purposes in the context of creditors.
What are exemptions?
Employees or agents acting in accordance with their employer's directions, requesting a purchaser to display a credit card for creditworthiness or identification purposes, and accepting a check regardless of whether a credit card is presented.
What are the Penalties?
A person aggrieved by a violation of the section on credit cards may bring an action to recover actual damages or $100, whichever is greater. The prevailing party may also be awarded reasonable attorney's fees and court costs.
Jurisdiction
Tennessee