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Can you summarize KYRS 434.660?
OFFENSES AGAINST PROPERTY BY FRAUD > Fraud by authorized persons, business organization, or financial institution.
Short Summary
This legal document pertains to fraud committed by authorized persons, business organizations, or financial institutions. It applies to individuals or entities authorized by an issuer to provide money, goods, services, or anything else of value upon presentation of a credit or debit card by a cardholder. This includes agents or employees of such authorized persons, business organizations, or financial institutions. The document states that if a person furnishes money, goods, services, or anything else of value upon presentation of a credit or debit card obtained or retained in violation of specific sections or a forged, expired, or revoked card, with the intent to defraud the issuer, a participating party, the cardholder, or any other person, they are guilty of a Class A misdemeanor if the value of the furnished items over a six-month period is less than $500. If the value is $500 or more but less than $10,000, it is a Class D felony, and if the value is $10,000 or more, it is a Class C felony.
Whom does it apply to?
A person, business organization, or financial institution who is authorized by an issuer to furnish money, goods, services, or anything else of value upon presentation of a credit or debit card by a cardholder, or any agent or employee of such person, business organization, or financial institution
What does it govern?
Fraud by authorized persons, business organization, or financial institution
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
Class A misdemeanor if the value of all money, goods, services, or other things of value furnished in violation of this section over a six (6) month period is less than five hundred dollars ($500), a Class D felony if such value is five hundred dollars ($500) or more but is less than ten thousand dollars ($10,000), or a Class C felony if such value is ten thousand dollars ($10,000) or more.
Jurisdiction
Kentucky