Montana Statutes
§ 31-1-115 — Issuing Credit Cards To Minors -- Collection Of Debt
Montana·Title 31 CREDIT TRANSACTIONS AND RELATIONSHIPS·Ch. 1 CREDIT TRANSACTIONS·Part 1 Loans of Money -- Interest Rates
31-1-115 . Issuing credit cards to minors -- collection of debt.
(1)An issuer of a credit card or similar loan advance access device may not issue a credit card or similar loan advance access device to a minor, as defined in 41-1-101 , residing in this state without first obtaining consent to the issuance from the minor's parent or legal guardian.
(2)An issuer of a credit card or similar loan advance access device that does not receive a parent's or legal guardian's consent, as required in subsection (1), before issuing the credit card or similar loan advance access device to a minor may not collect in this state from the minor or the minor's parent or guardian any debt incurred by the minor through the use of the credit card or similar loan advance access device.
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Montana § 31-1-115 (Issuing Credit Cards To Minors -- Collection Of Debt) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
En. Sec. 1, Ch. 21, L. 1997.
Nearby Sections
15
§ 31-1-101
Loan Of Money -- What Constitutes§ 31-1-102
Loan To Be Repaid In Current Money§ 31-1-103
Loan Presumed To Be On Interest§ 31-1-104
Interest Defined§ 31-1-105
Annual Rate§ 31-1-106
Legal Interest§ 31-1-107
Interest Rate Allowed By Agreement§ 31-1-109
When Interest Becomes Part Of Principal§ 31-1-110
Renumbered 25-9-205§ 31-1-111
Definition Of Regulated Lender§ 31-1-113
Limitation Of Rule Of 78ths§ 31-1-114
Reserved