18.2-191 - Definitions. - Virginia Statutes

§ 18.2-191. Definitions.

The following words and phrases as used in this article, unless a differentmeaning is plainly required by the context, shall have the following meanings:

"Acquirer" means a business organization, financial institution or an agentof a business organization or financial institution that authorizes amerchant to accept payment by credit card or credit card number for money,goods, services or anything else of value.

"Cardholder" means the person or organization named on the face of a creditcard to whom or for whose benefit the credit card is issued by an issuer.

"Credit card" means any instrument or device, whether known as a creditcard, credit plate, payment device number, or by any other name, issued withor without fee by an issuer for the use of the cardholder in obtaining money,goods, services or anything else of value on credit. For the purpose of thisarticle, "credit card" shall also include a similar device, whether knownas a debit card, or any other name, issued with or without fee by an issuerfor the use of the cardholder in obtaining money, goods, services or anythingelse of value by charging the account of the cardholder with a bank or anyother person even though no credit is thereby extended.

"Expired credit card" means a credit card which is no longer valid becausethe term shown on it has elapsed.

"Issuer" means the business organization or financial institution or itsduly authorized agent which issues a credit card.

"Payment device number" means any code, account number or other means ofaccount access, other than a check, draft or similar paper instrument, thatcan be used to obtain money, goods, services or anything else of value, or toinitiate a transfer of funds. "Payment device number" does not include anencoded or truncated credit card number or payment device number.

"Receives" or "receiving" means acquiring possession or control of thecredit card number or payment device number or accepting the same as securityfor a loan.

"Revoked credit card" means a credit card which is no longer valid becausepermission to use it has been suspended or terminated by the issuer.

"Sales draft" means a paper form evidencing a purchase of goods, servicesor anything else of value from a merchant through the use of a credit card.

"Cash advance/withdrawal draft" means a paper form evidencing a cashadvance or withdrawal from a bank or other financial institution through theuse of a credit card.

(Code 1950, § 18.1-125.2; 1968, c. 480; 1975, cc. 14, 15; 1977, c. 103; 1980,c. 99; 1985, c. 266; 1991, c. 546.)