Louisiana Revised Statutes 9:3577.3 – Registration prior to solicitation; inducements prohibited
Terms Used In Louisiana Revised Statutes 9:3577.3
- College campus: means the premises and grounds of an institution of postsecondary education. See Louisiana Revised Statutes 9:3577.2
- Commissioner: means the commissioner of financial institutions. See Louisiana Revised Statutes 9:3577.2
- Credit card: means a writing, number, or other evidence of an undertaking to pay for property or services delivered or rendered to or upon the order of a designated person or bearer. See Louisiana Revised Statutes 9:3577.2
- Institution of postsecondary education: means any institution under the management of the Board of Supervisors for the University of Louisiana System, the Board of Supervisors of Louisiana State University and Agricultural and Mechanical College, the Board of Supervisors of Southern University and Agricultural and Mechanical College, and the Board of Supervisors of Community and Technical Colleges or any private or accredited college in the state. See Louisiana Revised Statutes 9:3577.2
- Principal: means the amount financed or amount deferred under a consumer credit transaction. See Louisiana Revised Statutes 9:3516
- Solicitation: means an act of asking, enticing, or requesting a student to read, review, or consider materials relating to an application for a credit card or to complete an application for a credit card. See Louisiana Revised Statutes 9:3577.2
- Student: means a person who is under twenty-one years of age and who attends an institution of postsecondary education, whether enrolled on a full-time or part-time basis. See Louisiana Revised Statutes 9:3577.2
A. Prior to engaging in the solicitation of a student on a college campus, a credit card issuer shall register its intent to solicit the student for that purpose with an appropriate official of the institution of postsecondary education.
B. The registration shall include the principal place of business of the credit card issuer and shall be in such form as required by regulation of the commissioner.
C. It shall be unlawful for any credit card issuer to give or offer to give, directly or indirectly, orally or in writing, any gratuity or other thing of value, or advertise the offering of such as an inducement for a student to read, review, or consider materials relating to an application for a credit card or to complete an application for a credit card, unless the student has been provided a credit card debt education brochure.
Acts 1999, No. 1110, §1; Acts 2003, No. 1010, §1.