§ 97A.180 — Transfer of information if issuer is subsidiary

1. If an issuer is a subsidiary directly or indirectly owned by a bank holding company as defined in 12 U.S.C. § 1841, a savings and loan holding company as defined in 12 U.S.C. § 1467a(a)(1)(D) or a holding company of any other financial institution, information relating to the credit card account of a cardholder may be transferred to and used by other subsidiaries owned by the same bank holding company, savings and loan holding company or holding company of any other financial institution. For the purposes of this subsection, any bank holding company, savings and loan holding company or holding company of any other financial institution shall be deemed the owner of a subsidiary if it or a subsidiary corporation owns 80 percent or more of the stock of a subsidiary or 80 percent or more of the stock of the corporation that owns a subsidiary.
2. An issuer may transfer information relating to the credit card account of a cardholder to any person, other than a secondary cardholder, whose name appears on the face of the credit card of the cardholder.

Legislative History

(Added to NRS by 1995, 2600 )