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04 HB 656/AP
House Bill 656 (AS PASSED HOUSE
AND SENATE)
By: Representatives Chambers of the 53rd, Ehrhart of the 28th, Oliver of the 56th, Post 2, Jamieson of the 22nd, Moraitakis of the 42nd, Post 4, and others
By: Representatives Chambers of the 53rd, Ehrhart of the 28th, Oliver of the 56th, Post 2, Jamieson of the 22nd, Moraitakis of the 42nd, Post 4, and others
A BILL TO BE
ENTITLED
AN ACT
AN ACT
To amend Code Section 10-1-393 of the Official Code of
Georgia Annotated, relating to unfair or deceptive practices in consumer
transactions, so as to require that credit card issuers take steps to verify a
consumer´s
change of address when a person responds by mail to an unsolicited application
for credit and provides an address that is different from the address to which
such solicitation was mailed; to provide an exception; to provide for related
matters; to repeal conflicting laws; and for other
purposes.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF
GEORGIA:
SECTION 1.
Code Section 10-1-393 of the Official Code of Georgia
Annotated, relating to unfair or deceptive practices in consumer transactions,
is amended by adding a new paragraph (29.1) to read as
follows:
"(29.1) With respect to any credit card issuer:
(A) A credit card issuer who mails an unsolicited offer or solicitation to apply for a credit card and who receives by mail a completed application in response to the solicitation which lists an address that is not substantially the same as the address on the solicitation may not issue a credit card based on that application until steps have been taken to verify the applicant´s valid address to the same extent required by regulations prescribed pursuant to subsection (l) of 31 U.S.C. Section 5318. Any person who violates this paragraph commits an unlawful practice within the meaning of this Act.
(B) Notwithstanding subparagraph (A) of this paragraph, a credit card issuer, upon receiving an application, may issue a credit card to a consumer or commercial customer with whom it already has a business relationship provided the address to which the card is mailed is a valid address based upon information in the records of the credit card issuer or its affiliates;".
"(29.1) With respect to any credit card issuer:
(A) A credit card issuer who mails an unsolicited offer or solicitation to apply for a credit card and who receives by mail a completed application in response to the solicitation which lists an address that is not substantially the same as the address on the solicitation may not issue a credit card based on that application until steps have been taken to verify the applicant´s valid address to the same extent required by regulations prescribed pursuant to subsection (l) of 31 U.S.C. Section 5318. Any person who violates this paragraph commits an unlawful practice within the meaning of this Act.
(B) Notwithstanding subparagraph (A) of this paragraph, a credit card issuer, upon receiving an application, may issue a credit card to a consumer or commercial customer with whom it already has a business relationship provided the address to which the card is mailed is a valid address based upon information in the records of the credit card issuer or its affiliates;".
SECTION 2.
All laws and parts of laws in conflict with this Act are
repealed.