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Am. Sub. H. B. No. 12 As Passed by the HouseAs Passed by the House
128th General Assembly | Regular Session | 2009-2010 |
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Representatives Lundy, Schneider
Cosponsors:
Representatives Fende, Newcomb, Koziura, Dyer, Harris, Murray, DeGeeter, Phillips, Williams, B., DeBose, Hagan, Skindell, Okey, Luckie, Letson, Williams, S., Sykes, Boyd, Chandler, Foley, Garrison, Hackett, Harwood, Heard, Mallory, Pillich, Sayre, Szollosi, Ujvagi, Winburn, Yuko
A BILL
To enact sections
3345.86 and 3345.87 of the
Revised Code to
require institutions of higher
education
to provide financial literacy education
to students and adopt and adhere to policies
regarding credit card marketing on campus.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:
Section 1. That sections
3345.86 and 3345.87 of the
Revised Code be enacted to read as
follows:
Sec. 3345.86. (A) The board of trustees
of
every private and
state institution of higher education in this
state, or any
alternative governing board of such an institution,
shall adopt
and adhere to a policy regarding the marketing
of
credit cards
on property owned or operated by the institution
of
higher
education. The policy shall do both of the following:
(1) Prohibit campus credit card marketing activities;
(2) Require credit card marketers to register with the
institution of higher education prior to engaging in
credit card
marketing that is excluded from the definition of campus credit
card marketing activity under division (B)(3)(b) of this section
and permitted by the institution of higher education.
(B) As used in this section:
(1) "State institution of higher education" has the same
meaning as in section 3345.011 of the Revised Code.
(2) "Campus" means the land
and buildings located in this
state that a private or state
institution of higher education
uses for instruction or student
services.
(3)(a) "Campus credit card marketing activity" means any
activity conducted by an agent or employee of a card issuer that
meets both of the following criteria:
(i) The activity is
designed to encourage and enable
students to apply for a credit
card and includes the act of
placing on the campus a display or
poster together with a form
that can be returned to the card
issuer as a credit card
application, even if an employee or agent
of the card issuer is
not present at the display;
(ii) The activity is conducted in this state on property
owned or operated by, located on the campus
of, or at an event
sanctioned by a private or state institution of higher
education.
(b) "Campus credit card marketing activity" does not include
any of the following activities:
(i) Those that are conducted inside the office or other place
at which a bank, savings and loan association, savings bank, or
credit union organized under the laws of the United States or any
state of the United States receives money or its equivalent from
the public for deposit and conducts the general business of the
institution, or at an automated teller machine or
other money
transmission device owned, leased, or operated by any of those
institutions;
(ii) Displaying a company logo or otherwise advertising a
business in a manner that does not encourage and enable students
to apply for a credit card, including television, radio, and
print advertisements that are intended for the general public;
(iii) Mailing a credit card offer or advertisement to any
residence, even if the residence is located on property owned or
operated by a private or state institution of higher education;
(iv) Marketing a credit card at an athletic or entertainment
event that is
sanctioned by a private or state institution of
higher education
or located on property owned or operated by a
private or state
institution of higher education, provided that
the person marketing the credit card does not knowingly accept a
credit card application from an
undergraduate
student. To
determine whether a person is an undergraduate student, the credit
card marketer may rely on the person's statement that the person
is or is not an undergraduate student.
(4) "Credit card" and "card issuer" have the same meanings as
in section 1602 of the "Truth in Lending Act," 82 Stat. 146
(1968), 15 U.S.C.
1601, except that "credit card" does not
include a debit card or other access device that is a means to
withdraw funds or initiate an electronic funds transfer from a
deposit account.
Sec. 3345.87. (A) Every private and state institution of
higher education in this state shall offer financial literacy
education to students enrolled in the institution of higher
education, either as part of student orientation or during the
students' first grading period.
(B) Any state institution of higher education that receives
funds from an agreement between the institution of higher
education, or its alumni organization, and another entity to
market credit cards to current or former students of the
institution of higher education shall use a portion of those funds
to pay for all or part of the costs associated with providing
financial literacy education under this section.
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