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Can you summarize ORRS 646A.222?
Trade Regulation > Charge card solicitation; required disclosure; definitions.
Short Summary
This section of the Oregon Revised Statutes governs charge card solicitations and the required disclosures. It defines a charge card as a credit device that does not accrue finance charges and does not provide automatic access to credit repayable in installments. The solicitation must clearly and conspicuously disclose the annual fees and other charges applicable to the charge card. The section provides definitions for terms such as ‘charge card,’ ‘reasonable time,’ and ‘solicitation.’ It clarifies that solicitation includes printed material offering to issue a charge card, including application materials, printed advertisements, and information in magazines or newspapers. However, it excludes material that only refers to charge cards as one of the services provided by the issuer, offers made through radio, television, or catalogs, and incidental references to charge cards. The section does not specify any penalties for non-compliance or violations.
Whom does it apply to?
Charge card issuers and individuals receiving charge card solicitations
What does it govern?
Charge card solicitation; required disclosure; definitions
What are exemptions?
Material that only refers to charge cards as one of the services provided by the issuer; offers made by radio, television, or through a catalog; incidental references to a charge card in printed material
What are the Penalties?
No specific penalties mentioned
Jurisdiction
Oregon