130th Ohio General Assembly
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Am. Sub. H. B. No. 12  As Passed by the House
As Passed by the House

128th General Assembly
Regular Session
2009-2010
Am. Sub. H. B. No. 12


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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