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Can you summarize KYRS 434.650?
OFFENSES AGAINST PROPERTY BY FRAUD > Fraudulent use -- Presumption as to knowledge of revocation.
Short Summary
This legal document pertains to the fraudulent use of credit or debit cards, as well as the use of false, fictitious, forged, altered, or counterfeit checks, drafts, money orders, or other documents for obtaining money, goods, services, or anything else of value. It establishes that a person who commits such fraudulent acts with the intent to defraud is guilty of a crime. The penalties for violating these provisions vary depending on the value of the obtained items and the person’s criminal history. Additionally, the document includes a presumption that a cardholder has received knowledge of revocation four days after it has been mailed to them, with specific timelines for different mailing scenarios.
Whom does it apply to?
Any person who commits fraudulent acts with the intent to defraud the issuer, a participating party, a person, or organization providing money, goods, services, or anything else of value, or any other person.
What does it govern?
Fraudulent use
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
The penalty for violating the fraudulent use provisions is a Class B misdemeanor, unless certain conditions are met. If the value of all money, goods, services, or other things of value obtained in violation of this section over a six-month period is $500 or more but less than $1,000, it is a Class A misdemeanor. If the value is $1,000 or more but less than $10,000, it is a Class D felony. If the person has three or more convictions within the last five years, it is a Class D felony. If the value is $10,000 or more, it is a Class C felony.
Jurisdiction
Kentucky