44-7801. Definitions

In this article, unless the context otherwise requires:

1. " Authorized user" means any person other than a cardholder who has actual, implied or apparent authority to use a cardholder's credit card or credit card account.

2. " Cardholder" means the named person who applies for or accepts the credit card account.

3. " Charges" means purchases, cash advances, annual membership fees, delinquent payment fees, insufficient fund fees, over limit fees or other amounts incurred through use of the credit card.

4. " Credit card" means any card, plate or other single credit device that may be used from time to time to obtain credit and shall include a charge card, courtesy card, identification card or account number that may be used to access a line of credit to purchase goods or services.

5. " Credit card account" means a line of credit offered by an issuer to a cardholder that is accessible by the use of a credit card.

6. " Credit card agreement" means the terms and conditions governing the use of the credit card account.

7. " Creditor" means the person, business, financial institution or commercial enterprise that owns the credit card account.

8. " Financial institution" means any of the following:

(a) A banking institution that is authorized to issue credit cards pursuant to federal or state law.

(b) A banking subsidiary owned by a bank holding company as defined in 12 United States Code section 1841, or by a savings and loan holding company as defined in 12 United States Code section 1467a(a)(1)(d).

(c) Any other federally regulated banking institution.

9. " Issuer" means a financial institution or an authorized agent of a financial institution that issues a credit card.