Part 9 — Cost of Credit Disclosure Division 1 Interpretation and Application
89 Limitation of liability
unauthorized use of a lost or stolen credit card after the credit card
issuer receives notice of the loss or theft.
(2) A notice under subsection (1) may be oral or in writing.
(3) The maximum total liability of a card holder arising from
unauthorized use of a lost or stolen credit card before the issuer
receives notice under subsection (1) is the lesser of
(a) $50, and
(b) the amount fixed or agreed t o by the credit card issuer as the
maximum amount for which the card holder is liable in the
event of the unauthorized use of the card after its loss or
theft.
(4) Subsection (3) does not apply to a transaction prescribed by
regulation.
1998 cF-1.05 s89