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Improper use of payment device numbers. Changes the deadline for old devices to comply with the prohibition on printing certain information on receipts from July 1, 2007, to July 1, 2005. In addition, the bill changes the prohibition of displaying certain information on payment device receipts from no more than the last five digits to no more than the last four digits. The bill also extends the prohibition to handwritten, imprinted and copied payment device numbers, except for the one original. The bill allows compliance by returning noncomplying copies to or destroying them in front of the payment device user. References to credit cards and debit cards were removed because the Congress preempted the law's application to credit card and debit card receipts with the reauthorization of the Fair Credit Reporting Act. See 15 U.S.C. 1681c(g) and 1681t(b)(5)(A).
Patron - May
Energy Performance-Based Contract Procedures. Amends the required contract provisions for energy performance-based contracts by increasing the payback period from 12 to 20 years.
Patron - Bryant
Contract formation; federal Fair Credit Billing Act. Provides that a transaction shall be presumed to have occurred at the mailing address most recently provided by the holder of a credit card to the card issuer. The place where such a credit card transaction occurred is relevant in a determination of whether a credit card purchaser is able to assert certain claims and defenses pursuant to the federal Fair Credit Billing Act.
Patron - Scott, J.M.
Power of attorney; revocation. Authorizes a court to revoke, suspend, or otherwise limit the authority of an attorney-in-fact, held with respect to a person who has become incapacitated, at the request of, and based upon information provided by, the guardian, conservator, or committee for that incapacitated person, or by other interested parties.
Patron - Watts
Credit card and other open-end accounts; cancellation, notification, and liability. Requires issuers of credit cards and suppliers of goods and services that provide credit through open-end accounts to cancel a credit card or other open-end account within 48 hours after receiving a request for cancellation from an account holder or within 48 hours after receiving the final payment if the account is not paid in full at the time of the request for cancellation. The bill requires issuers and suppliers to provide written notice of amount due if account has not been paid in full, and requires issuers and suppliers to provide written notification of cancellation within 48 hours of cancellation. Finally, it establishes that account holders are not liable for amounts accruing on the account after cancellation other than amounts charged to the account by, or at the direction of, the account holder.
Patron - Morgan
Contracts; payment and performance bonds required in private construction projects. Requires that within 10 calendar days of the execution of any contract exceeding $250,000, the prime contractor shall furnish to the owner either: (i) a performance bond in the sum of the contract amount conditioned upon the faithful performance of the construction contract by the prime contractor in strict conformity with the plans, specifications and conditions of the contract or (ii) a payment bond in the sum of the contract amount. The bond shall be for the protection of claimants who have and fulfill contracts to supply labor or materials to the prime contractor to whom the contract was awarded, or to any subcontractors, in furtherance of the work provided for in the contract, and shall be conditioned upon the prompt payment for all materials furnished or labor supplied or performed in the furtherance of the work. The bill specifies the procedure for making claims against such bonds.
Patron - Hargrove
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