Mass. Gen. Laws ch. 140D § 21
Current through Chapters 1 to 249 and Chapters 253 to 255 of the 2024 Legislative Session
A person issuing a credit card shall not apply any funds of the cardholder held for any purpose by the issuer of the card in order to satisfy a debt arising from the use of such credit card unless such action was previously authorized by the cardholder in a separately signed agreement whereby the cardholder agrees to pay debts incurred in his open-end-credit account by permitting the card issuer to deduct periodically all or a portion of such debt from the cardholder's deposit account; provided, however, that such action shall not be taken with respect to a disputed item if the cardholder so requests. This agreement shall contain the following statement appearing conspicuously on the face thereof:
Mass. Gen. Laws ch. 140D, § 21