Terms Used In Michigan Laws 750.157u

  • Deviceholder: means either of the following:
  (i) The person or organization who requests a financial transaction device and to whom or for whose benefit a financial transaction device is subsequently issued. See Michigan Laws 750.157m
  • Financial transaction device: means any of the following:
  •   (i) An electronic funds transfer card. See Michigan Laws 750.157m
  • Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
  • person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
  •    A person to whom a deviceholder presents a financial transaction device for the purpose of obtaining goods, property, services, or anything of value on credit, or for any purpose for which the device may be used, who, by using the financial transaction device, by forging or aiding in the forgery of the deviceholder’s signature, or by filling out or completing an application or form to be furnished to the issuer of the financial transaction device, causes the deviceholder to be charged for a purchase or other transaction that was not authorized by the deviceholder, to be overcharged for a purchase or other transaction that was authorized by the deviceholder, or to otherwise incur a financial loss, is guilty of a felony.