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Can you summarize 815 ILCS 145?
BUSINESS TRANSACTIONS > Credit Card Liability Act.
Short Summary
The Credit Card Liability Act, also known as the Credit Card Liability Act, is a legal document in Illinois that governs the liability of individuals who have credit cards issued in their name without their request or application. According to the Act, a person is not liable to the issuer of the card for any purchases made or amounts owing unless they have indicated their acceptance of the card through signing, using the card, or permitting its use by another. The Act does not consider a mere failure to destroy or return an unsolicited card as an indication of acceptance. The Act defines ‘credit card’ as per the Criminal Code of 2012, excluding cards issued by telephone companies regulated by the Illinois Commerce Commission or other public authority. In case an issuer brings an action against the person named on the card, the burden of proving the request, application, authorization, permission, use, or benefit lies with the plaintiff if put in issue by the defendant. If the judgment is in favor of the defendant, the court will allow them a reasonable attorney’s fee, to be taxed as costs. The Credit Card Liability Act provides certain protections to individuals who have been issued a credit card. According to Section 2(a) of the Act, a person will not be liable to the card issuer unless they have been given notice of their potential liability and have been provided with an addressed notification in the event of loss, theft, or possible unauthorized use of the credit card. The Act also sets limits on the liability of the cardholder for unauthorized use of the card prior to notification. Section 2(b) places the burden of proving benefit, authorization, use, or permission on the issuer when an action is brought against the person named on the card. If the defendant prevails, the court may award a reasonable attorney’s fee. Overall, the Credit Card Liability Act aims to protect credit cardholders from unauthorized use and ensure fair treatment in legal proceedings related to credit card transactions.
Whom does it apply to?
The Credit Card Liability Act applies to individuals who have credit cards issued in their name without their request or application.
What does it govern?
The Credit Card Liability Act governs the liability of individuals who have credit cards issued in their name without their request or application.
What are exemptions?
The Act does not consider a mere failure to destroy or return an unsolicited card as an indication of acceptance. It also excludes cards issued by telephone companies regulated by the Illinois Commerce Commission or other public authority.
What are the Penalties?
No specific penalties are mentioned in the provided legal document content.
Jurisdiction
Illinois