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Can you summarize 9 LARS Code Book II, Code Title XII, Chapter 2, Part XIX?
LOUISIANA CONSUMER CREDIT LAW > COLLEGE CAMPUS CREDIT CARD SOLICITATION LAW
Short Summary
The College Campus Credit Card Solicitation Law governs the solicitation of credit cards on college campuses in Louisiana. It applies to institutions of postsecondary education, students under the age of twenty-one attending such institutions, and credit card issuers. The law aims to regulate the act of asking, enticing, or requesting students to read, review, or consider credit card application materials or complete credit card applications. Prior to engaging in solicitation, credit card issuers must register their intent with an appropriate official of the institution. The registration should include the principal place of business of the credit card issuer and comply with the regulations set by the commissioner. It is unlawful for credit card issuers to offer gratuities or other things of value as an inducement for students to consider credit card materials or complete applications, unless the student has been provided a credit card debt education brochure. Debt collection actions against the parent or legal guardian of a student for whom a credit card has been issued are also prohibited, unless the parent or legal guardian has agreed in writing to be liable for the debts. Violations of this law may result in fines of up to one thousand dollars per violation, and the commissioner may initiate civil actions to recover fines, costs, and attorney fees.
Whom does it apply to?
Institutions of postsecondary education, students under the age of twenty-one attending such institutions, and credit card issuers
What does it govern?
Solicitation of credit cards on college campuses in Louisiana
What are exemptions?
No exemptions are specified
What are the Penalties?
A person who violates any provision of this Part may be fined up to one thousand dollars for each violation. The commissioner may maintain a civil action in a court of competent jurisdiction to recover such fines, together with his costs and attorney fees incident to such action.
Jurisdiction
Louisiana