Section 133. Use of banking institution name  


Latest version.
  • 1. No person shall use the
      name of a banking institution when advertising, marketing or  soliciting
      business which is likely to induce, directly or indirectly, the purchase
      of goods or services, if the reference to such institution is:
        (a) without the consent of the banking institution; and
        (b)  which  would  cause  a  reasonable  person  to  conclude that the
      advertising or marketing  material  or  solicitation  either  originated
      from,  or  is  endorsed  by  or is any other way the responsibility of a
      banking institution.
        2. Nothing in this section shall prohibit the use of or  reference  to
      the  name of a banking institution in advertising or marketing materials
      or solicitations, if the use or reference to such institution  does  not
      deceive or confuse a reasonable person regarding whether the advertising
      or  marketing  material  or  solicitation  (a)  originated  from, (b) is
      endorsed by or (c) is in any other way the responsibility of  a  banking
      institution.
        3.  The  department  is  authorized  to enforce the provisions of this
      section.
        4. For purposes of this section, "banking institution" shall mean  any
      state  or federally chartered bank, trust company, savings bank, savings
      and loan association or credit union which has an office  or  branch  in
      this  state,  or  a  private  banker, safe deposit company or investment
      company.