| Passed by the Senate March 3, 2005 YEAS 49 BRAD OWEN ________________________________________ President of the Senate Passed by the House April 6, 2005 YEAS 59 FRANK CHOPP ________________________________________ Speaker of the House of Representatives | I, Thomas Hoemann, Secretary of the Senate of the State of Washington, do hereby certify that the attached is ENGROSSED SUBSTITUTE SENATE BILL 5506 as passed by the Senate and the House of Representatives on the dates hereon set forth. THOMAS HOEMANN ________________________________________ Secretary | |
| Approved April 18, 2005. CHRISTINE GREGOIRE ________________________________________ Governor of the State of Washington | April 18, 2005 - 1:52 p.m. Secretary of State State of Washington |
| State of Washington | 59th Legislature | 2005 Regular Session |
READ FIRST TIME 02/03/05.
AN ACT Relating to the development of policies regarding the marketing or merchandising of credit cards to students at the state's institutions of higher education; and adding a new section to chapter 28B.10 RCW.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION. Sec. 1 A new section is added to chapter 28B.10 RCW
to read as follows:
(1)(a) Subject to subsection (2) of this section, institutions of
higher education shall develop policies regarding the marketing or
merchandising of credit cards on institutional property to students,
except as provided in newspapers, magazines, or similar publications or
within any location of a financial services business regularly doing
business on the institution's property.
(b) "Merchandising" means the offering of free merchandise or
incentives to students as part of the credit card marketing effort.
(c) "Student" means any student enrolled for one or more credit
hours at an institution of higher education.
(2) Institutions of higher education shall each develop official
credit card marketing policies. The process of development of these
policies must include consideration of student comments. The official
credit card marketing policies must, at a minimum, include
consideration of and decisions regarding:
(a) The registration of credit card marketers;
(b) Limitations on the times and locations of credit card
marketing; and
(c) Prohibitions on material inducements to complete a credit card
application unless the student has been provided credit card debt
education literature, which includes, but is not limited to, brochures
of written or electronic information.
(3)(a) The policies shall include the following elements: A
requirement for credit card marketers to inform students about good
credit management practices through programs developed in concert with
the institution of higher education; and
(b) A requirement to make the official credit card marketing policy
available to all students upon their request.