Idaho Code 18-3125A – Unauthorized Factoring of Credit Card Sales Drafts
Current as of: 2023 | Check for updates
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Terms Used In Idaho Code 18-3125A
- Authorized credit card merchant: means a person or organization who is authorized by an issuer to furnish money, goods, services or anything of value upon presentation of a financial transaction card or a financial transaction card account number by a card holder, and to present valid credit card sales drafts to the issuer for payment. See Idaho Code 18-3122
- Credit card sales draft: means :
Idaho Code 18-3122Issuer: means a business organization or financial institution or its duly authorized agent which issues a financial transaction card. See Idaho Code 18-3122 person: includes a corporation as well as a natural person;
Idaho Code 73-114
It is unlawful for any person to knowingly and with intent to defraud, employ, solicit or otherwise cause an authorized credit card merchant, or for the authorized credit card merchant itself, to present to the issuer for payment any credit card sales draft pertaining to any sale or purported sale of goods or services which was not made by such authorized credit card merchant in the ordinary course of business, except with the express authorization of the issuer.