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Can you summarize NDCC Chapter 51-14.1?
Sales and Exchanges > Credit Cards
Short Summary
This legal document governs credit cards and related terms. It defines various terms such as ‘accepted credit card’, ‘adequate notice’, ‘card issuer’, ‘cardholder’, ‘conspicuous’, ‘credit card’, and ‘unauthorized use’. The document specifies that a provision imposing liability on a cardholder for the unauthorized use of a credit card is effective only if certain conditions are met, such as the card being an accepted credit card, the liability imposed not exceeding one hundred dollars, and the card issuer giving adequate notice to the cardholder. The document also states that a cardholder incurs no liability from the unauthorized use of either an accepted or an unaccepted credit card, except as provided in the previous provision. Additionally, the document prohibits requiring a credit card number as a condition of accepting a check or other draft, and only allows recording information concerning the type and issuer of the credit card for identification purposes. However, there are exceptions to this rule when a person has agreed with the card issuer to cash or accept checks or other drafts from the issuer’s cardholders and the issuer guarantees the checks or drafts. Violation of any provision in this document is considered an infraction.
Whom does it apply to?
Card issuers and cardholders
What does it govern?
Credit cards and related terms
What are exemptions?
No specific exemptions are mentioned.
What are the Penalties?
Violation of any provision is considered an infraction.
Jurisdiction
North Dakota