1. (a) Except for records kept during the regular course of a criminal investigation or prosecution or as otherwise required by law, a governmental entity or agent or employee of a governmental entity shall not knowingly keep or cause to be kept any list, record, or registry of privately owned firearms or the owners of firearms.
2. (b) Except as provided in subsections (d) and (e), a payment card network or agent of a payment card network shall not require the use of a firearms code in a way that distinguishes a firearm retailer from other retailers.
3. (c) Except as provided in subsections (d) and (e), a financial institution or agent of a financial institution shall not decline a payment card transaction involving a firearm retailer based solely on an assignment of a firearms code.

4. (d) Nothing in this section shall prohibit a payment card network or financial institution from declining or otherwise refusing to process a payment card transaction for any of the following reasons:

   1. (1) To comply with applicable state or federal law.
   2. (2) To comply with a request by a customer.
   3. (3) To comply with fraud, credit, or compliance controls.
   4. (4) For the purpose of merchant category exclusions offered by a financial institution for expenditure control or corporate card control.
   5. (5) To restrict the use or availability of a firearms code in this state.

5. (e) Nothing in this section shall limit the authority of a financial institution or payment card network to negotiate with responsible parties or otherwise impair a financial institution’s actions related to any of the following:

   1. (1) Dispute processing.
   2. (2) Fraud risk, compliance, credit management, or other controls in the ordinary course of business operations.
   3. (3) Protecting against illegal activities, breach, or cyber risks.
   4. (4) Restricting the use or availability of a firearms code in this state.

(Act 2024-232, §3.)