N.Y. General Business Law Section 511
Definitions


In this article, unless the context or subject matter otherwise requires:

1.

“Credit card” means and includes any credit card, credit plate, charge plate, courtesy card, or other identification card or device issued by a person to another person which may be used to obtain a cash advance or a loan or credit or to purchase or lease property or services on the credit of the issuer or of the holder;

2.

“Person” includes an individual, corporation, partnership or association, two or more persons having a joint or common interest or any other legal or commercial entity;

3.

“Issuer” means a person who issues a credit card or a debit card;

4.

“Holder” means a person to whom such a credit card or debit card is issued or who has agreed with the issuer to pay obligations arising from the use of a credit card or debit card issued to another person;

5.

“Unauthorized use” means use of a credit card or a debit card by a person other than the holder who does not have actual, implied or apparent authority from the holder for such use and from which use the holder receives no benefit;

6.

“Seller” means any person who honors credit cards or debit cards which may be used to purchase or lease property or services;

7.

“Lender” means any person who honors credit cards which may be used to obtain a cash advance or loan.

8.

“Improper use” means unauthorized use of a credit card or a debit card or use of a revoked, cancelled, expired or forged credit card or debit card at the premises of a seller or lender, to obtain a cash advance or loan, or to purchase or lease property or services, or an attempt to do so;

9.

“Debit card” means a card, plate or other similar device issued by a person to another person which may be used, without a personal identification number, code or similar identification number, code or similar identification, to purchase or lease property or services. The term does not include a credit card or a check, draft or similar instrument.

10.

“Secured credit card” means any credit card for which an issuer takes a pledge of a specifically identified interest-bearing deposit account as provided in Personal Property Law § 413 (Retail instalment credit agreements)section four hundred thirteen of the personal property law.

Source: Section 511 — Definitions, https://www.­nysenate.­gov/legislation/laws/GBS/511 (updated Sep. 22, 2014; accessed Dec. 21, 2024).

Accessed:
Dec. 21, 2024

Last modified:
Sep. 22, 2014

§ 511’s source at nysenate​.gov

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