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Can you summarize CORS 4-3-506?
DISHONOR > Recording credit card or social security numbers prohibited.
Short Summary
This legal provision, found in the Colorado Revised Statutes under the Uniform Commercial Code, specifically addresses the recording of credit card or social security numbers on checks or other negotiable instruments. It prohibits any person from recording or requiring the maker of a check to record a credit card or social security number as identification or proof of creditworthiness. However, there are exceptions to this prohibition. It allows for the recording of a credit card number when a check or negotiable instrument is issued to pay the designated credit card. Additionally, a person’s social security number can be recorded on a check or negotiable instrument issued to pay a student loan or on a bonafide loan application. It is important to note that this provision does not mention any specific penalties for non-compliance or violation.
Whom does it apply to?
Any person who makes or receives payment by check or other negotiable instrument
What does it govern?
Recording credit card or social security numbers on checks or negotiable instruments
What are exemptions?
Recording a credit card number when a check or other negotiable instrument is issued to pay the designated credit card, recording a person's social security number on a check or other negotiable instrument issued to pay a student loan, recording a person's social security number on a bonafide loan application
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Colorado