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SUMMARY OF THE 2005 ACTS AND RESOLVES

ACT NO. 5

(H.162)

Commerce and trade; consumer fraud; telemarketing transactions

This act amends Vermont's statutes regulating telemarketing transactions to limit telemarketer-initiated electronic automated clearing house (ACH) debits to those allowed by National Automated Clearing House Association (NACHA) operating rules.  The act also holds third party processors of ACH and demand draft debits liable for processing those debits without prior written authorization and compliance with the NACHA operating rules.

Effective Date: July 1, 2005



Published by:

The Vermont General Assembly
115 State Street
Montpelier, Vermont


www.leg.state.vt.us