Minnesota Legislature
Office of the Revisor of Statutes
2007 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
325G.04 LOST OR STOLEN FINANCIAL TRANSACTION CARDS.
Subdivision 1. Liability limited. No person in whose name a financial transaction card
has been issued which the person has accepted as provided in section 325G.03 shall be liable
for any amount in excess of $50 resulting from the unauthorized use of the card from which the
person or a member of the person's family or household derives no benefit; provided, however,
that the limitation on liability of this subdivision shall be effective only if the issuer is notified of
any unauthorized charges contained in a bill within 60 days of receipt of the bill by the person
in whose name the card is issued.
Subd. 2. Unauthorized use. No person in whose name a financial transaction card is issued
shall be liable for any amount resulting from the unauthorized use of the financial transaction
card after receipt by the issuer of notice that the card has been lost or stolen and from which such
person or a member of the person's family or household derives no benefit.
Subd. 3. Unauthorized use defined. For purposes of subdivisions 1 and 2, "unauthorized
use" means a use by a person other than the customer who does not have actual, implied, or
apparent authority for the use.
History: 1969 c 1004 s 3; 1985 c 243 s 4; 1986 c 444; 1987 c 349 art 1 s 37
Subdivision 1. Liability limited. No person in whose name a financial transaction card
has been issued which the person has accepted as provided in section 325G.03 shall be liable
for any amount in excess of $50 resulting from the unauthorized use of the card from which the
person or a member of the person's family or household derives no benefit; provided, however,
that the limitation on liability of this subdivision shall be effective only if the issuer is notified of
any unauthorized charges contained in a bill within 60 days of receipt of the bill by the person
in whose name the card is issued.
Subd. 2. Unauthorized use. No person in whose name a financial transaction card is issued
shall be liable for any amount resulting from the unauthorized use of the financial transaction
card after receipt by the issuer of notice that the card has been lost or stolen and from which such
person or a member of the person's family or household derives no benefit.
Subd. 3. Unauthorized use defined. For purposes of subdivisions 1 and 2, "unauthorized
use" means a use by a person other than the customer who does not have actual, implied, or
apparent authority for the use.
History: 1969 c 1004 s 3; 1985 c 243 s 4; 1986 c 444; 1987 c 349 art 1 s 37
Official Publication of the State of Minnesota
Revisor of Statutes