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Can you summarize KYRS 434.670?
OFFENSES AGAINST PROPERTY BY FRAUD > Failure to furnish goods, services, etc., represented in writing as furnished.
Short Summary
This provision, found in the Kentucky Revised Statutes under Offenses Against Property by Fraud, pertains to a person, business organization, or financial institution authorized to furnish money, goods, services, or anything else of value upon presentation of a credit or debit card. It also includes their agents or employees. If such authorized entities fail to provide the money, goods, services, or anything else of value that they have represented in writing to the issuer over a six-month period, with the intent to defraud the issuer, a participating party, the cardholder, or any other person, they may be guilty of a Class A misdemeanor if the difference in value is less than $500. If the difference is $500 or more but less than $10,000, it is a Class D felony, and if the difference 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?
Failure to furnish goods, services, etc., represented in writing as furnished
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
Class A misdemeanor if the difference between the value of all money, goods, services, or anything else of value actually furnished and the value represented to the issuer to have been furnished is less than $500, Class D felony if such value is $500 or more but is less than $10,000, or a Class C felony if such value is $10,000 or more.
Jurisdiction
Kentucky