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Searching 2019-2020 Session

The Vermont Statutes Online


Title 9 : Commerce and Trade


(Cite as: 9 V.S.A. § 2505)
  • § 2505. Loan and credit card services

    It shall be an unlawful practice for a sponsor to sell or offer for sale pay-per-call services directly or indirectly purporting to extend callers any form of credit, loan, or charge card unless:

    (1) all advertisements and promotions for the service include a complete and accurate description of all terms, including fees, required purchases, interest rates, minimum account balances or deposits, limitations on usage, and other conditions, limitations, or charges associated therewith;

    (2) the sponsor is authorized to act as an agent in connection with the issuance of the loan, credit, or charge card by an authorized financial institution;

    (3) the sponsor has complied with all applicable State and federal laws relating to the extension of loans, credit, or charge cards; and

    (4) the sponsor provides a full refund to any caller who requests one. (Added 1993, No. 99, § 2.)