[412:2-606.5] Financial institution name fraud. (a) No person shall use the name or trademark of a financial institution, as defined in section 412:1-109, or its affiliates or subsidiaries when marketing or soliciting existing or prospective customers if the marketing materials are used without the written consent of the financial institution and in a manner that would lead a reasonable person to believe that the material or solicitation originated from, was endorsed by, is related to, or is the responsibility of the financial institution or its affiliates or subsidiaries.

(b) The commissioner may impose a civil penalty of up to $10,000 for each violation of this section. [L 2008, c 51, 2]

 

Revision Note

 

Enacted as an addition to article 1 of chapter 412, this section was redesignated to this article pursuant to 23G-15.

 

 

Previous Vol08_Ch0401-0429 Next