ASSEMBLY, No. 1688

STATE OF NEW JERSEY

215th LEGISLATURE

 

PRE-FILED FOR INTRODUCTION IN THE 2012 SESSION

 


 

Sponsored by:

Assemblyman  DAVID C. RUSSO

District 40 (Bergen, Essex, Morris and Passaic)

Assemblywoman  CELESTE M. RILEY

District 3 (Cumberland, Gloucester and Salem)

Assemblywoman  CONNIE WAGNER

District 38 (Bergen and Passaic)

 

 

 

 

SYNOPSIS

     Prohibits public institutions of higher education from permitting direct solicitation of students for credit card accounts.

 

CURRENT VERSION OF TEXT

     Introduced Pending Technical Review by Legislative Counsel

  


An Act concerning certain credit card solicitations and supplementing Title 18A of the New Jersey Statutes.

 

     Be It Enacted by the Senate and General Assembly of the State of New Jersey:

 

     1.  As used in this act:

     "Charge card" means a credit card on an account for which no periodic rate is used to compute a finance charge.

     "Credit" means the right to defer payment of debt or to incur debt and defer its payment.

     "Credit card" means any card, plate, coupon book, or other single credit device that may be used from time to time to obtain credit.

     "Direct merchandising" means the promotion to sell or offer any goods, wares, services or merchandise to any person by means of interpersonal contact or through the use of displays.

     "Public institution of higher education" means Rutgers, The State University, the State colleges or universities established pursuant to chapter 64 of Title 18A of the New Jersey Statutes, the New Jersey Institute of Technology, the University of Medicine and Dentistry of  New Jersey, the county colleges and any other public university or college now or hereafter established or authorized by State law.

     "Student" means a person who is a matriculated student at a public institution of higher education in this State whose billing address is in this State.

 

     2.  A public institution of higher education is not authorized to enter into any agreement, or to permit any of its agents or student organizations to enter into any agreement, for the direct merchandising of credit cards to any students.

 

     3.  This act shall take effect on the 30th day after enactment.

 

 

STATEMENT

 

     This bill prohibits a public institution of higher education in this State from entering into an agreement, or permitting its agents or a student organization from entering into any agreement, for the purposes of the direct merchandising of credit cards in person or by displays to students.