S-3494.1 _______________________________________________
SENATE BILL 6349
_______________________________________________
State of Washington 52nd Legislature 1992 Regular Session
By Senators von Reichbauer, Owen and Pelz
Read first time 01/27/92. Referred to Committee on Financial Institutions & Insurance.
AN ACT Relating to the unlawful factoring of credit card transactions; adding new sections to chapter 9A.56 RCW; and prescribing penalties.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION. Sec. 1. A new section is added to chapter 9A.56 RCW to read as follows:
As used in sections 1 and 2 of this act, unless the context requires otherwise:
(1) "Cardholder" means a person to whom a credit card is issued or a person who is authorized to use the credit card.
(2) "Credit card" means a card, plate, booklet, credit card number, credit card account number, or other identifying symbol, instrument, or device that can be used to pay for, or to obtain on credit, goods or services.
(3) "Credit card transaction" means a sale or other transaction or act in which a credit card is used to pay for, or to obtain on credit, goods or services.
(4) "Credit card transaction record" means a record or evidence of a credit card transaction, including, without limitation, a paper, sales draft, instrument, or other writing and an electronic or magnetic transmission or record.
(5) "Financial institution" means a bank, trust company, mutual savings bank, savings and loan association, or credit union authorized under state or federal law to do business and accept deposits in Washington.
(6) "Merchant" means a person authorized by a financial institution to honor or accept credit cards in payment for goods or services.
(7) "Person" does not include a financial institution or its authorized employee, representative, or agent.
NEW SECTION. Sec. 2. A new section is added to chapter 9A.56 RCW to read as follows:
(1) A person commits the crime of unlawful factoring of a credit card transaction if the person intentionally or knowingly:
(a) Presents to or deposits with, or causes another to present to or deposit with, a financial institution for payment a credit card transaction record that is not the result of a credit card transaction between the cardholder and the person;
(b) Employs, solicits, or otherwise causes a merchant or employee, representative, or agent of a merchant to present to or deposit with a financial institution for payment a credit card transaction record that is not the result of a credit card transaction between the cardholder and the merchant; or
(c) Employs, solicits, or otherwise causes another to become a merchant for purposes of engaging in conduct made unlawful by this section.
(2) Unlawful factoring of a credit card transaction is a class C felony.