HB 1647 Commercial Law Credit Card Processors Service Agreements

About HB-1647

Requiring a credit card processor to send a services agreement summary to businesses with whom it has, or intends to have, a services agreement; requiring a business to acknowledge a services agreement by signing, dating, and returning a copy of the summary of the services agreement to the credit card processor; requiring a credit card processor to provide written notice regarding a services agreement renewal 90 days before a business entity must cancel the agreement to prevent automatic renewal; applying the Act; etc.