Terms Used In Vermont Statutes Title 9 Sec. 4042

  • Accepted credit card: means any credit card that the cardholder has signed or has used, or authorized another to use, for the purpose of obtaining money, property, labor, services, or payment of delinquent taxes on credit, and also the term includes a credit card issued in replacement or renewal of an accepted credit card. See
  • Cardholder: means any person to whom a credit card is issued and any person who has agreed with the card issuer to pay obligations arising from the issuance of a credit card to another person. See
  • Credit card: means any instrument, whether known as credit card, credit plate, charge plate, or any other name, that purports to evidence an undertaking to pay for property, labor, services, or delinquent taxes paid, delivered, or rendered to or upon the order of persons designated or otherwise authorized as bearers of such card, and includes bank credit cards as defined in 8 V. See
  • Unauthorized use: means a use of a credit card to obtain money, property, labor, services, or payment of delinquent taxes by a person other than the cardholder who does not have actual, implied, or apparent authority for such use. See

§ 4042. Liability for unauthorized use

A provision imposing liability on a cardholder for the unauthorized use of a credit card shall be effective only if the card is an accepted credit card, the liability imposed is not in excess of $100.00, the cardholder has received notice of loss instructions from issuer, and the unauthorized use occurs before the cardholder has given adequate notice of loss to issuer. (Added 1969, No. 221 (Adj. Sess.), § 2.)