Gift Cards and Gift Certificates Statutes and Legislation

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Gift Cards and Gift Certificates Statutes and Recent Legislation

Statutory Chart last updated: March 15, 2013

Legislation last updated: March 15, 2013

PLEASE NOTE: Please note the summaries should be used for general informational purposes and not as a legal reference. NCSL is unable to provide guidance to citizens or businesses regarding gift cards and gift certificate laws and practices. If you have questions regarding issuing or redeeming a gift card or gift certificate or a retailer's practices, please contact the Office of the Attorney General in your state.

NCSL Contact: Heather Morton, Denver

In 2009, Congress passed the Credit Card Accountability Responsibility and Disclosure (CARD) Act, which set consumer protections for gift cards based on many state laws. The law provides that gift cards cannot expire within five years from the date they were activated and generally limits inactivity fee on gift cards except in certain circumstances, such as if there has been no transaction for at least 12 months. The federal law creates a floor for regulation and leaves room for state regulation on redeeming gift cards for cash and unclaimed property provisions.

Federal Statute | State Statutes | State Legislation

FEDERAL STATUTES

The Credit Card Accountability Responsibility and Disclosure (CARD) Act of 2009, Public Law 111-24

Eco-Gift Card Act, Public Law 111-209
Delays certain disclosure requirements in the Credit CARD Act of 2009 until January 31, 2011, as specified.

STATE STATUTES

State:	Definition of Gift Card/Gift Certificate:	Expiration Date Provision:	Fee Provision:	Redeemable for Cash:	Escheat Provsion:
Alabama					Ala Code §35-12-72(a)(17) Gift certificates are presumed abandoned, other than those exempt under §35-12-73, three years after June 30 of the year in which the certificate was sold, but if redeemable in merchandise only, the amount abandoned is deemed to be 60 percent of the certificate's face value. Ala. Code §35-12-73(b)(1) A gift certificate, gift card, or in-store merchandise credit issued or maintained by any person engaged primarily in the business of selling tangible personal property at retail is exempt from reporting under this article.
Alaska	Alaska Stat. §34.45.760 "Gift certificate" means an obligation of a business association arising from a transaction between the business association and a consumer to provide goods or services at a future date; "gift certificate" includes a gift certificate, stored value card, gift card, on-line gift account, or other representation or evidence of the obligation of a business association.				Alaska Stat. §34.45.240 Gift certificate is presumed abandoned three years after is it unclaimed by the owner. Amount presumed abandoned is the price paid by the purchaser for the gift certificate.
Arizona	Ariz. Rev. Stat. Ann. §44-7401 "Gift card" means any gift certificate, gift card or electronic gift card or any other medium issued or sold after October 31, 2005 for which the issuer has received payment for the full face value or full banked dollar value of the card for the future purchase or delivery of goods or services.	Ariz. Rev. Stat. Ann. §44-7402 Issuer of certificate/card must disclose expiration date.	Ariz. Rev. Stat. Ann. §44-7402 Issuer must disclose amount of fee and when fee is incurred.		Ariz. Rev. Stat. Ann. §44-301(15) Gift certificates/cards are not considered property and not subject to escheat laws.
Arkansas	Ark. Stat. Ann. §4-88-702 "General use prepaid card" means a card or other electronic payment device issued by a bank or financial institution that is: (i) Usable at multiple, unaffiliated merchants or service providers or at automated teller machines; (ii) Issued in a requested amount whether or not that amount may be, at the option of the issuer, increased in value or reloaded if requested by the holder; (iii) Purchased or loaded on a prepaid basis; and (iv) Honored, upon presentation, by merchants for goods or services, or at automated teller machines. "Gift certificate" means a written promise that is: (i) Usable at a single merchant or an affiliated group of merchants that share the same name, mark, or logo; (ii) Issued in a specific amount and cannot be increased; (iii) Purchased on a prepaid basis in exchange for payment; and (iv) Honored upon presentation by the single merchant or affiliated group of merchants for goods or services. "Store gift card" means a plastic card or other electronic payment device that is: (i) Usable at a single merchant or an affiliated group of merchants that share the same name, mark, or logo; (ii) Issued in a specified amount and may or may not be increased in value or reloaded; (iii) Purchased on a prepaid basis in exchange for payment; and (iv) Honored upon presentation by the single merchant or affiliated group of merchants for goods or services. Ark. Stat. Ann. §4-88-704(3) The Act does not apply to "general use prepaid cards," "gift certificates," or "store gift cards" which are usable with multiple, unaffiliated sellers of goods or services and are issued by a financial institution under §4-88-702(3).	Ark. Stat. Ann. §4-88-703(a) and (c) A person shall not sell or issue a gift certificate, a store gift card, or a general use prepaid card that is subject to an expiration date earlier than two years from the date of issuance or sale of the gift certificate, store gift card, or general use prepaid card. Upon the expiration of the two year time period, a gift certificate, a store gift card, or a general use prepaid card may be subject to expiration if the following disclosures are printed clearly in a conspicuous place on the front or back of the gift certificate, the store gift card, or the general use prepaid card in at least 10-point type: The date on which the gift certificate, the store gift card, or the general use prepaid card expires.	Ark. Stat. Ann. §4-88-703(c) A dormancy fee, an inactivity charge or fee, or a service fee shall not be charged on a gift certificate, a store gift card, or a general use prepaid card before two years from the date of issuance or sale of the gift certificate, store gift card, or general use prepaid card. Upon the expiration of the two year time period, a gift certificate, a store gift card, or a general use prepaid card may be subject to a post-sale fee, including a service fee, a dormancy fee, an account maintenance fee, a cash out fee, a gift card replacement fee, an activation fee, or a reactivation fee, if the following disclosures are printed clearly in a conspicuous place on the front or back of the gift certificate, the store gift card, or the general use prepaid card in at least 10-point type: With respect to a post sale fee: (A) The amount of the fee; (B) The circumstances under which the fee will be imposed; (C) The frequency with which the fee will be imposed; and (D) Whether the fee is triggered by inactivity.		Ark. Stat. Ann. §18-28-201(13)(B) Gift certificates/gift cards, in-store merchandise credits, or layaway accounts issued or maintained by any person in the business of selling tangible personal property at retail are not considered property and not subject to escheat laws.
California	Cal. Civil Code §1749.45 Includes gift cards, but does not include any gift card usable with multiple sellers of goods or services, provided the expiration date, if any, is printed on the card. This exemption does not apply to a gift card usable only with affiliated sellers of goods or services.	Cal. Civil Code §1749.5 Expiration date prohibited.	Cal. Civil Code §1749.5 Dormancy fee allowed as specified; all other fees prohibited.	Cal. Civil Code §1749.5(b) (1) Any gift certificate sold after January 1, 1997, is redeemable in cash for its cash value, or subject to replacement with a new gift certificate at no cost to the purchaser or holder. (2) Notwithstanding paragraph (1), any gift certificate with a cash value of less than $10 is redeemable in cash for its cash value.	Cal. Civ. Proc. Code §1520.5 Gift certificates purchased after 1997 are not subject to escheat. The escheat law does apply to any gift certificate that has an expiration date and that is given in exchange for money or any other thing of value.
Colorado	Colo. Rev. Stat. §6-1-722 "Gift card" means a prefunded tangible or electronic record of a specific monetary value evidencing an issuer's agreement to provide goods, services, credit, money, or anything of value. A "gift card" includes, but is not limited to, a tangible card; electronic card; stored-value card; or certificate or similar instrument, card, or tangible record, all of which contain a microprocessor chip, magnetic chip, or other means for the storage of information and for which the value is decremented upon each use.		Colo. Rev. Stat. §6-1-722(b)(3) Prohibits service fee, a dormancy fee, an inactivity fee, a maintenance fee, or any other type of fee.	Colo. Rev. Stat. §6-1-722(b)(2) On and after the effective date of this section, the issuer shall redeem the remaining value of a gift card for cash if the amount remaining is five dollars or less on request of the holder.	Colo. Rev. Stat. §38-13-108.4 Gift certificate redeemable in cash subject to escheat if unclaimed by owner by more than five years. Certificates issued for food, products, goods or services are not subject to escheat provisions.
Connecticut	Conn. Gen. Stat. §3-56a 2011 Public Act 201 "Gift certificate" means a record evidencing a promise, made for consideration, by the seller or issuer of the record that goods or services will be provided to the owner of the record to the value shown in the record and includes, but is not limited to, a record that contains a microprocessor chip, magnetic stripe or other means for the storage of information that is prefunded and for which the value is decremented upon each use, a gift card, an electronic gift card, stored-value card or certificate, a store card, or a similar record or card, but "gift certificate" does not include prepaid calling cards regulated under §42-370, prepaid commercial mobile radio services, as defined in 47 CFR 20.3 or general-use prepaid cards, as defined in section 9 of this act. 2011 Public Act 201 "General-use prepaid card" has the same meaning given to that term in 12 CFR 205. 20(a)(3), as from time to time amended.	Conn. Gen. Stat. §42-460 Prohibits expiration dates. 2011 Public Act 201 A general-use prepaid card shall not include an expiration date relative to the underlying funds that are redeemable through the use of the applicable card, code or device. Notwithstanding the provisions of this subsection, a general-use prepaid card may include an expiration date with regard to such card, code or device, provided: (1) The following disclosures are made, in writing, on such card, code or device: (A) That such card, code or device expires, but that the underlying funds do not expire and that the consumer may contact the issuer for a replacement card, code or device; and (B) a toll-free telephone number and an Internet web site address, if one is maintained, that a holder of a general-use prepaid card may use to obtain a replacement card, code or device after such card, code or device expires; (2) no fee or charge is imposed on such holder for replacing the card, code or device or for providing such holder with the remaining balance in some other manner, provided the card, code or device has not been lost or stolen; and (3) the seller of the card, code or device has established policies and procedures to provide consumers a reasonable opportunity to purchase a card, code or device that has not less than five years remaining until the card, code or device expires.	Conn. Gen. Stat. §3-65c 2011 Public Act 201 Prohibits service fees for gift certificates and general-use prepaid cards.		Conn. Gen. Stat. §3-73a 2011 Public Act 201 Gift certificates and general-use prepaid cards do not escheat to the state.
Delaware					Del. Code Ann. tit. 12, §1197 et seq. If owner dies intestate, is missing for more than five years or abandons property the gift certificate/card reverts to the state. The period of dormancy shall be the shorter of five years or the expiration period, if any, of the gift certificate less one day.
District of Columbia					D.C. Code Ann. §41-101 et seq. Gift certificates held or owing in the ordinary course of the holder's business that have remained unclaimed by the owner for more than five years after becoming payable or distributable are presumed abandoned. If a gift certificate is redeemable for cash or merchandise, its value shall be the amount paid by the purchaser.
Florida	Fla. Stat. §501.95 "Gift certificate" means a certificate, gift card, stored value card, or similar instrument issued in exchange for monetary consideration when the certificate, card, or similar instrument is redeemable for merchandise, food, or services regardless of whether any cash may be paid to the owner of the certificate, card, or instrument as part of the redemption transaction. "Credit memo" means a certificate, card, stored value card, or similar instrument issued in exchange for returned merchandise when the certificate, card, or similar instrument is redeemable for merchandise, food, or services regardless of whether any cash may be paid to the owner of the certificate, card, or instrument as part of the redemption transaction.	Fla. Stat. §501.95 A gift certificate or credit memo sold or issued for consideration in this state may not have an expiration date, expiration period. However, a gift certificate may have an expiration date of not less than three years if it is provided as a charitable contribution when no consideration is given to the issuer by the consumer, or not less than one year if it is provided as a benefit pursuant to an employee-incentive program, consumer-loyalty program, or promotional program when no consideration is given to the issuer by the consumer, and the expiration date is prominently disclosed in writing to the consumer at the time it is provided. In addition, a gift certificate may have an expiration date if it is provided as part of a larger package related to a convention, conference, vacation, or sporting or fine arts event having a limited duration so long as the majority of the value paid by the recipient is attributable to the convention, conference, vacation, or event. An issuer may honor a gift certificate that has expired on or before the effective date of this act.	Fla. Stat. §501.95 A gift certificate or credit memo sold or issued for consideration in this state may not have any type of postsale charge or fee imposed on the gift certificate or credit memo, including, but not limited to, service charges, dormancy fees, account maintenance fees, or cash-out fees. Does not apply to a gift certificate or credit memo sold or issued by a financial institution, as defined in s§655.005, or by a money transmitter, as defined in §560.103, if the gift certificate or credit memo is redeemable by multiple unaffiliated merchants.		Fla. Stat. §717.1045 An unredeemed gift certificate or credit memo as defined in §501.95 is not required to be reported as unclaimed property. The consideration paid for an unredeemed gift certificate or credit memo is the property of the issuer of the unredeemed gift certificate or credit memo. An unredeemed gift certificate or credit memo is subject only to any rights of a purchaser or owner thereof and is not subject to a claim made by any state acting on behalf of a purchaser or owner. It is the intent of the Legislature that this section apply to the custodial holding of unredeemed gift certificates and credit memos. However, a gift certificate or credit memo described in §501.95(2)(b) shall be reported as unclaimed property. The consideration paid for such a gift certificate or credit memo is the property of the owner of the gift certificate or credit memo.
Georgia	Ga. Code §10-1-393(b)(33)(B) 'General use gift card' means a plastic card or other electronic payment device which is usable at multiple, unaffiliated merchants or service providers; is issued in an amount which amount may or may not be, at the option of the issuer, increased in value or reloaded if requested by the holder; is purchased or loaded on a prepaid basis by a consumer; and is honored upon presentation by merchants for goods or services. 'Gift certificate' means a written promise that is usable at a single merchant or an affiliated group of merchants that share the same name, mark, or logo; is issued in a specified amount and cannot be increased in value on the face thereof; is purchased on a prepaid basis by a consumer in exchange for payment; and is honored upon presentation for goods or services by such single merchant or affiliated group of merchants that share the same name, mark, or logo. 'Store gift card' means a plastic card or other electronic payment device which is usable at a single merchant or an affiliated group of merchants that share the same name, mark, or logo; is issued in a specified amount and may or may not be increased in value or reloaded; is purchased on a prepaid basis by a consumer in exchange for payment; and is honored upon presentation for goods or services by such single merchant or affiliated group of merchants that share the same name, mark, or logo.	Ga. Code §10-1-393(b)(33)(A)(ii) An expiration date must be conspicuous.	Ga. Code §10-1-393(b)(33)(A)(ii) Amount of dormancy/non-use fees must be conspicuously printed.		Ga. Code §44-12-205 A gift certificate issued in the ordinary course of an issuer's business which remains unclaimed by the owner for more than five years after becoming payable or distributable is presumed abandoned. The amount presumed abandoned is the price paid by the purchaser for the gift certificate.
Guam	Not specified in statute
Hawaii	Hawaii Rev. Stat. §481B-13(e) "Gift certificate" or "certificate" includes any electronic card with a banked dollar value where the issuer has received payment for the full banked dollar value for the future purchase or delivery of goods or services, any certificate where the issuer has received payment for the full face value of the certificate for future purchases or delivery of goods or services, and any other medium that evidences the giving of consideration in exchange for the right to redeem the certificate, electronic card, or other medium for goods, food, or services of at least an equal value.	Hawaii Rev. Stat. §481B-13 The date of issuance and the expiration date shall be clearly identified on the face of the gift certificate, or, if an electronic card with a banked dollar value, clearly printed upon a sales receipt transferred to the purchaser of the electronic card upon the completed transaction. The expiration date shall be not less than five years after the date of issuance; provided that the expiration date of certificates issued only in paper form shall be not less than two years after the date of issuance. If the gift certificate does not have an expiration date, it shall be valid in perpetuity.	Hawaii Rev. Stat. §481B-13(a) Prohibits service fees, including for dormancy or inactivity. "Service fee" means a periodic fee, charge, or penalty for holding or use of a gift certificate, but does not include a one-time initial activation or issuance fee. Any activation or issuance fee charged shall not exceed the lesser of 10 percent of the face value of the certificate or $5.		Hawaii Rev. Stat. §523A-14 A gift certificate issued in the ordinary course of an issuer's business which remains unclaimed by the owner for more than five years after becoming payable or distributable is presumed abandoned. The amount presumed abandoned is the price paid by the purchaser for the gift certificate.
Idaho					Idaho Code §14-501(10)(b) Gift certificates are considered "intangible property." Idaho Code §14-502(2)(b) Gift certificates with an expiration date prominently displayed on their face do not constitute abandoned property. Idaho Code §14-514 A gift certificate without an expiration date prominently displayed on its face issued in the ordinary course of an issuer's business which remains unclaimed by the owner for more than five years after becoming payable or distributable is presumed abandoned. In the case of a gift certificate without an expiration date prominently displayed on its face, the amount presumed abandoned is the price paid by the purchaser for the gift certificate.
Illinois	Ill. Rev. Stat. ch. 815, §505/2SS(a) "Gift certificate" means a record evidencing a promise, made for consideration, by the seller or issuer of the record that goods or services will be provided to the holder of the record for the value shown in the record and includes, but is not limited to, a record that contains a microprocessor chip, magnetic stripe or other means for the storage of information that is prefunded and for which the value is decremented upon each use, a gift card, an electronic gift card, stored-value card or certificate, a store card or a similar record or card. "Gift certificate" also includes a credit slip issued by a store to a consumer who returns goods that enables the consumer to receive other goods of similar value in exchange for the returned goods. For purposes of this act, any gift certificate usable with multiple sellers of goods or services is not included in the definition.	Ill. Rev. Stat. ch. 815, §505/2SS(b) On or after January 1, 2008, no person shall sell a gift certificate that is subject to an expiration date earlier than five years after the date of issuance. Ill. Rev. Stat. ch. 815, §505/2SS(c) Any gift certificate issued prior to January 1, 2008 that is subject to an expiration date must contain a statement clearly and conspicuously printed on the gift certificate stating the expiration date. The statement may appear on the front or back of the gift certificate in a location where it is visible to any purchaser prior to the purchase. Does not apply to any gift certificate issued prior to January 1, 2008 that contains a toll free phone number and a statement clearly and conspicuously printed on the gift certificate stating that holders can call the toll free number to find out the balance on the gift certificate, if applicable, and the expiration date.	Ill. Rev. Stat. ch. 815, §505/2SS(b) On or after January 1, 2008, no person shall sell a gift certificate that is subject to a post-purchase fee. Any gift certificate issued prior to January 1, 2008 that is subject to a fee must contain a statement clearly and conspicuously printed on the gift certificate stating whether there is a fee, the amount of the fee, how often the fee will occur, that the fee is triggered by inactivity of the gift certificate, and at what point the fee will be charged. The statement may appear on the front or back of the gift certificate in a location where it is visible to any purchaser prior to the purchase. Ill. Rev. Stat. ch. 815, §505/2SS(c) The face value of a gift certificate issued on or after January 1, 2008 may not be reduced in value and the holder of a gift certificate issued after January 1, 2008 may not be penalized in any way for non-use or untimely redemption of the gift certificate.		Ill. Rev. Stat. ch. 765, §1025/10.6 Only applies to gift certificates/cards with an expiration date or fees or if the card/certificate was issued before the 93^rd General Assembly (2003-2004). After property is abandoned, it reverts to the state.
Indiana					Ind. Code §32-34-1-1 Gift certificates and gift cards are exempted from unclaimed property act.
Iowa	Iowa Code §537.1301(22) "Gift certificate" means a merchandise certificate conspicuously designated as a gift certificate, and purchased by a buyer for use by a person other than the buyer. Iowa Code §556.9 "Gift certificate"means a merchandise certificate or electronic gift card conspicuously designated as a gift certificate or electronic gift card, and generally purchased by a buyer for use by a person other than the buyer.		Iowa Code §556.9 No fee can be charged unless there is a contract.		Iowa Code §556.9 Gift certificates unclaimed by the owner three years after issuance are abandoned.
Kansas	Kan. Stat. Ann. §50,6108 "Gift card" means a tangible device, whereon is embedded or encoded in an electronic or other format a value issued in exchange for payment, which promises to provide to the bearer merchandise of equal value to the remaining balance of the device. "Gift card" does not include a prepaid bank card. "Gift certificate" means a written promise given in exchange for full or discounted payment, or without any money or other thing of value being given in exchange, to provide merchandise in a specified amount or of equal value to the bearer of the certificate. "Gift certificate" does not include a prepaid bank card. "Prepaid bank card" means a general use, prepaid card or other electronic payment device that is issued by a bank or other financial institution in a predenominated amount useable at multiple, unaffiliated merchants or at automated teller machines, or both.	Kan. Stat. Ann. §50,6108 On and after January 1, 2007, no person, firm, partnership, association or corporation shall sell a gift certificate or gift card to a purchaser containing an expiration date which is less than five years from the date of purchase. A gift certificate or gift card sold without an expiration date is valid until redeemed or replaced.	Kan. Stat. Ann. §50,6108 No fees may be charged against the balance of a gift card or gift certificate within 12 months from the date of issuance of the card.	Kan. Stat. ann. §50,6108(b) A merchant shall not be required to redeem a gift card or gift certificate for cash.	Kan. Stat. Ann. §58-3934 Gift certificates are not specifically included.
Kentucky	Ky. Rev. Stat. §367.890(1) "Gift card," as used in this section, means a certificate, electronic card, or other medium issued by a merchant that evidences the giving of consideration in exchange for the right to redeem the certificate, electronic card, or other medium for goods, food, services, credit, or money of at least an equal value. "Gift card" includes any electronic card issued by a merchant with a monetary value where the issuer has received payment for the full monetary value for the future purchase or delivery of goods or services and any certificate issued by a merchant where the issuer has received payment for the full monetary face value of the certificate for the future purchase or delivery of goods and services.	Ky. Rev. Stat. §367.890 A gift card expiration date shall not be less than one year from the date of issuance. If no expiration date is printed on the front or back of the card, it is presumed valid until it is redeemed or replaced for a new gift card.	Ky. Rev. Stat. §367.890(3) No person or entity shall charge service charges or fees relative to that gift card, including dormancy fees, latency fees, or administrative fees, that have the effect of reducing the total amount for which the holder of the gift card may redeem the gift card until the expiration date on the card has expired.		Ky. Rev. Stat. §393.010 Gift certificates are not specifically included.
Louisiana	La. Rev. Stat. Ann. §51:1423(A) "Gift certificate" shall mean a writing identified as a gift certificate or gift card purchased by a buyer for use by a person not redeemable in cash and usable in its face amount in lieu of cash in exchange for goods or services supplied by the seller. A gift certificate or gift card shall include an electronic card with a banked dollar value, a merchandise credit, a certificate where the issuer has received payment for the full face value of the future purchase or delivery of goods or services and any other medium that evidences the giving of consideration in exchange for the right to redeem the certificate, electronic card or other medium for goods, food, services, credit or money of at least an equal value.	La. Rev. Stat. Ann. §51:1423(B)(1) An expiration date must be more than five years and conspicuous. A gift certificate sold without an expiration date shall be valid until redeemed or replaced.	La. Rev. Stat. Ann. §51:1423(B)(2) Prohibits a service fee, including but not limited to a service fee for dormancy fee. However, nothing shall prevent the issuer from charging a one-time handling fee, which shall not exceed $1 per gift certificate.		La. Rev. Stat. Ann. §9:151 et seq. Gift certificate is presumed abandoned three years after December 31st of the year it was sold.
Maine	Me. Rev. Stat. Ann. tit. 33, §1952 "Gift obligation" means an obligation of a business association arising from a transaction between the business association and a consumer to provide goods or services at a future date. This includes, but is not limited to, a gift certificate, gift card, on-line gift account or other representation or evidence of the obligation. "Prefunded bank card" means a device issued by a financial organization that enables the holder to transfer the underlying funds to multiple merchants at the merchants' point-of-sale terminals. For purposes of this subsection, "underlying funds" means the funds received by the financial organization that issued the card in exchange for the issuance of the card. A prefunded bank card must provide value from multiple merchants. "Stored-value card" means a record evidencing a promise, made for consideration, by the seller or issuer of the record that goods or services will be provided to the owner of the record to the value shown in the record and includes, but is not limited to, a record that contains a microprocessor chip, magnetic stripe or other means for the storage of information, that is prefunded and for which the value is decreased upon each use.	Me. Rev. Stat. Ann. tit. 33, §1953(G) A period of limitation may not be imposed on the owner's right to redeem the gift obligation or stored-value card. This paragraph does not apply to prefunded bank cards. Me. Rev. Stat. Ann. tit. 33, §1953(G-1) A period of limitation may not be imposed on the owner's right to redeem the prefunded bank card.	Me. Rev. Stat. Ann. tit. 33, §1953(G) Prohibits fees or charges on gift obligations or stored-value cards, except that the issuer may charge a transaction fee for the initial issuance and for each occurrence of adding value to an existing gift obligation or stored-value card. These transaction fees must be disclosed in a separate writing prior to the initial issuance or referenced on the gift obligation or stored-value card. Me. Rev. Stat. Ann. tit. 33, §1956 A holder may deduct from property presumed abandoned a charge imposed by reason of the owner's failure to claim the property within a specified time only if there is a valid and enforceable written contract between the holder and the owner under which the holder may impose the charge and the holder regularly imposes the charge, which is not regularly reversed or otherwise canceled. The amount of the deduction is limited to an amount that is not unconscionable. Nothing in this section prevents the holder from deducting fees or charges in lieu of those fees or charges related to the owner's failure to claim the property within a specified period of time when such fees or charges are deducted from the property before the date the property is presumed abandoned. This paragraph does not apply to prefunded bank cards.	Me. Rev. Stat. Ann. tit. 33, §1953(G) Beginning November 1, 2008, if the gift obligation or stored-value card is redeemed in person and a balance of less than $5 remains following redemption, at the consumer's request the merchant redeeming the gift obligation or stored‐value card must refund the balance in cash to the consumer. This subparagraph does not apply to a prepaid telephone service card, a gift obligation or nonreloadable stored‐value card with an initial value of $5 or less or a stored-value card that is not purchased but provided as a promotion or as a refund for merchandise returned without a receipt. This paragraph does not apply to prefunded bank cards.	Me. Rev. Stat. Ann. tit. 33, §1953(G) A gift obligation or stored-value card is presumed abandoned if it is unclaimed by the apparent owner two years after December 31st of the year in which the obligation or the most recent transaction involving the obligation or stored-value card occurred, whichever is later, including the initial issuance and any subsequent addition of value to the obligation or stored‐value card. (1) The amount unclaimed is 60 percent of the gift obligation's or stored-value card's face value. (2) A gift obligation or stored‐value card sold on or after December 31, 2011 is not presumed abandoned if the gift obligation or stored‐value card was sold by a single issuer who in the past calendar year sold no more than $250,000 in face value of gift obligations or stored‐value cards. Sales of gift obligations and stored‐value cards are considered sales by a single issuer if the sales were by businesses that operate either: (a) Under common ownership or control with another business or businesses in the state; or (b) As franchised outlets of a parent business. (3) A period of limitation may not be imposed on the owner's right to redeem the gift obligation or stored-value card. This paragraph does not apply to prefunded bank cards. Me. Rev. Stat. Ann. tit. 33, §1953(G-1) A prefunded bank card, three years after December 31st of the year in which the obligation or the most recent activity involving the prefunded bank card occurred, whichever is later, including the initial issuance and any subsequent addition of value to the prefunded bank card.
Maryland	Md. Commercial Code Ann. §14-1319 "Gift certificate" means a device constructed of paper, plastic, or any other material that is: (i) sold or issued by a person for a cash value that can be used to purchase goods or services; or (ii) issued as a store credit for returned goods. Md. Commercial Code Ann. §14-1320 "Gift card" that (1) Is processed through a national credit or debit card service; and (2) May be used to purchase goods or services from multiple unaffiliated sellers of goods and services.	Md. Commercial Code Ann. §14-1319 A person may not sell or issue a gift certificate that, within four years after the date of purchase, is subject to expiration or a fee or charge of any kind. Md. Commercial Code Ann. §14-1320 A gift card may be subject to expiration, if disclosed as specified.	Md. Commercial Code Ann. §14-1319 A person may not sell or issue a gift certificate that, within four years after the date of purchase, is subject to expiration or a fee or charge of any kind. Md. Commercial Code Ann. §14-1320 A gift card may be subject to a postsale fee, including a service fee, dormancy fee, account maintenance fee, cash-out fee, gift card replacement fee, activation fee, or reactivation fee, if disclosed as specified.		Md. Commercial Code Ann. §17-101(m) Gift certificates are exempted from unclaimed property act.
Massachusetts	Mass. Gen. Laws Ann. ch. 255D, §1 "Gift certificate" is a writing identified as a gift certificate purchased by a buyer for use by a person other than the buyer not redeemable in cash and usable in its face amount in lieu of cash in exchange for goods or services supplied by the seller. A gift certificate shall include an electronic card with a banked dollar value, a merchandise credit, a certificate where the issuer has received payment for the full face value for the future purchase or delivery of goods or services and any other medium that evidences the giving of consideration in exchange for the right to redeem the certificate, electronic card or other medium for goods, food, services, credit or money of at least an equal value. A gift certificate shall not include pre-paid calling arrangements, as defined in §1 of chapter 64H, or any electronic card usable with multiple unaffiliated sellers of goods or services.	Mass. Gen. Laws Ann. ch. 200A, §5D A gift certificate, as defined in section 1 of chapter 255D, sold or offered to be sold shall be valid for not less than seven years after its date of issuance. The date of issuance and the expiration date shall be clearly identified on its face, subject to section 75C of chapter 266, or, if an electronic card with a banked dollar value, clearly printed upon a sales receipt transferred to the purchaser of the electronic card upon the completed transaction, or otherwise made available to the purchaser or holder of the electronic card through means of an Internet site or a toll free information telephone line. A gift certificate not clearly marked with an expiration date or for which the expiration date is not otherwise made available as provided in this section shall be redeemable in perpetuity. Once an expiration date has been reached, the issuer of the gift certificate shall not be subject to section 7. Mass. Gen. Laws Ann. ch. 266, §75C Whoever sells or offers to sell a gift certificate as defined in section 1 of chapter 255D, which imposes a time limit of less than seven years within which such certificate may be redeemed, shall be punished by a fine of not more than $300. This section shall not apply when the purchaser of the gift certificate is not obligated to pay for it until the time of use. Whoever, after having sold a gift certificate refuses to redeem the certificate before it has reached the expiration date, shall be punished by a fine of not more than $300.	Mass. Gen. Laws Ann. ch. 266, §75D Whoever sells or offers to sell a gift certificate, as defined in section 1 of chapter 255D, which imposes dormancy fees, latency fees, administrative fees, periodic fees, service fees or other fees that have the effect of reducing the total value amount for which the holder may redeem such gift certificate, shall be punished by a fine of not more than $300 per violation. Mass. Gen. Laws Ann. ch. 266, §75E Whoever sells or offers to sell a gift certificate, as defined in section 1 of chapter 255D, which imposes any fees or charges including, but not limited to, purchase fees, activation fees, renewal fees or cancellation fees, shall provide to consumers notice of any such fees, in writing, on the gift certificate, on the packaging of the gift certificate, or on both. Failure to print such notice shall be punished by a fine of not more than $300 per violation. Mass. Gen. Laws Ann. ch. 266, §75F Whoever redeems a gift certificate, as defined in section 1 of chapter 255D and deducts a gratuity therefrom without the consent of the holder of the gift certificate, shall be punished by a fine of not more than $300 per violation.	Mass. Gen. Laws Ann. ch. 200A, §5D A purchaser or holder of a gift certificate which, by its terms, prohibits the purchaser or holder from adding value thereto and which has been redeemed for at least 90 percent of its face value shall make an election to receive the balance in cash or continue using the gift certificate. A purchaser or holder of a gift certificate which, by its terms, authorizes the purchaser or holder to add value thereto and which has been redeemed in part, such that the value remaining is $5 or less, shall make an election to receive the balance in cash or continue using the gift certificate.	Mass. Gen. Laws Ann. ch. 200A, §1 et seq. A gift certificate not clearly marked with an expiration date or for which the expiration date is not otherwise made available as provided in this section shall be redeemable in perpetuity.
Michigan	Mich. Comp. Laws §445.903e "Gift certificate" means a written promise or a gift card or other electronic payment device that meets all of the following: 1) Is usable at a single retailer, is usable at an affiliated group of retailers that share the same name, mark, or logo, or is usable at multiple, unaffiliated retailers or service providers. 2) Is issued in a specified amount. 3) May or may not be increased in value or reloaded. 4) Is purchased or loaded on a prepaid basis for the future purchase or delivery or goods or services. 5) Is honored upon presentation. "Gift certificate" does not include any of the following: (a) A general use, prepaid card or other electronic payment device that is issued or sponsored by a financial institution in a predetermined amount and is usable at multiple, unaffiliated retailers or at automated teller machines. As used in this subdivision, "financial institution" means a bank, bank and trust, national bank, savings bank, savings and loan association, credit union, or money transmitter organized under the laws of this state, another state, the District of Columbia, the United States, or any territory or protectorate of the United States and their respective subsidiaries, affiliates, or holding companies. (b) An electronic payment device linked to a deposit account. (c) A prepaid telephone calling card regulated under state or federal law or a card used in connection with prepaid wireless telephone service. (d) An electronic payment device used to access an account from which an individual may pay medical expenses, health care expenses, dependent care expenses, or similar expenses on a pretax basis under the internal revenue code, 26 USC 1 to 1789, or regulations adopted pursuant to the internal revenue code. (e) A prepaid discount card or program used to purchase identified goods or services at a price or percentage below the normal and customary price, if any expiration date of the prepaid discount card or program is clearly and conspicuously disclosed. (f) A payroll card or other electronic payment device linked to a deposit account and given in exchange for goods or services rendered. (g) A gift certificate sold below face value or at a volume discount to an employee, to a nonprofit or charitable organization, or to an educational institution for fund-raising purposes. (h) A gift certificate distributed to a consumer or employee pursuant to an awards, rewards, loyalty, or promotional program, if the consumer or employee is not required to give consideration for the gift certificate. (i) An electronic credit voucher issued by a person that holds a certificate issued under chapter 411 of title 49 of the United States Code, 49 USC 41101 to 41113, or a permit issued under chapter 413 of title 49 of the United States Code, 49 USC 41301 to 41313.	Mich. Comp. Laws §445.903g A person engaged in the retail sale of goods or services shall not sell a gift certificate to a consumer that expires within a period of less than five years.	Mich. Comp. Laws §445.903f A person engaged in the retail sale of goods and services shall not charge an inactivity fee or other service fee to a customer for the possession or use of a gift certificate. As used in this section, "service fee" does not include any fee charged to and paid by a consumer in connection with the sale of a gift certificate, unless the fee is deducted or debited from the face value of the gift certificate.		Mich. Comp. Laws §567.235 (1) Except as provided in subsection (4), a gift certificate, gift card, or credit memo is presumed abandoned if either of the following apply: (a) The certificate, card, or memo is not claimed or used for a period of five years after becoming payable or distributable. (b) The certificate, card, or memo was used or claimed one or more times without exhausting its full value, but subsequently was not claimed or used for an uninterrupted period of five years. (2) For purposes of subsection (1), a gift certificate or gift card is considered to have been claimed or used if there is any transaction processing activity on the gift certificate or gift card including, but not limited to, redeeming, refunding, or adding value to the certificate or card. Activity initiated by the issuer of the certificate or card, including, but not limited to, assessing inactivity fees or similar service fees, does not constitute transaction processing activity for purposes of this subsection. (3) In the case of a gift certificate or gift card, the owner is presumed to be a gift recipient of the gift certificate or gift card, and the amount presumed abandoned is the price paid by the purchaser for the gift certificate or gift card, less the total of any purchases or fees assessed against the certificate or card. In the case of a credit memo, the amount presumed abandoned is the amount credited to the recipient of the memo. (4) This act does not apply to a gift certificate as defined in section 3e of the Michigan consumer protection act, 1976 PA 331, MCL 445.903e, that is issued for retail goods or services by a person engaged in the retail sale of goods or services.
Minnesota	Minn. Stat. §325G.53 "Gift certificate" means a tangible record evidencing a promise, made for consideration, by the seller or issuer of the record that goods or services will be provided to the owner of the record to the value shown in the record and includes, but is not limited to, a gift card, stored-value card, store card, or a similar record or card that contains a microprocessor chip, magnetic stripe, or other means for the storage of information, and for which the value is decreased upon each use. The provisions of this section shall not apply to gift certificates issued by a federally chartered or state-chartered bank, bank and trust, savings bank, savings association, or credit union, or by an operating subsidiary or other affiliate of any of them, and that can be used at multiple sellers of goods and services, provided that the issuer discloses any expiration date and fee associated with the gift certificate.	Minn. Stat. §325G.53 It is unlawful for any person or entity to sell a gift certificate that is subject to an expiration date.	Minn. Stat. §325G.53 It is unlawful for any person or entity to sell a gift certificate that is subject to a service fee of any kind, including, but not limited to, a service fee for dormancy.		Minn. Stat. §345.39 Gift certificates are exempted from definition of intangible property.
Mississippi					Miss. Code Ann. §89-12-14 Gift certificates unclaimed by the owner for five years is abandoned.
Missouri					Mo. Rev. Stat. §447.500 et seq. Gift certificates that are redeemable in merchandise only shall be reportable at a rate equal to 60 percent of their respective face value. The state treasurer shall reimburse the owner the full face value.
Montana	Mont. Code Ann. §30-14-102 "Gift certificate" means a record, including a gift card or stored value card, that is provided for paid consideration and that indicates a promise by the issuer or seller of the record that goods or services will be provided to the possessor of the record for the value that is shown on the record or contained within the record by means of a microprocessor chip, magnetic stripe, bar code, or other electronic information storage device. The consideration provided for the gift certificate must be made in advance. The value of the gift certificate is reduced by the amount spent with each use. A gift certificate is considered trust property of the possessor if the issuer or seller of the gift certificate declares bankruptcy after issuing or selling the gift certificate. The value represented by the gift certificate belongs to the possessor, to the extent provided by law, and not to the issuer or seller. (b) The term does not include: (i) prepaid telecommunications and technology cards, including but not limited to prepaid telephone calling cards, prepaid technical support cards, and prepaid internet disks that have been distributed to or purchased by a consumer; (ii) a coupon provided to a consumer pursuant to any award, loyalty, or promotion program without any money or consideration being given in exchange for the card; or (iii) a gift certificate usable with multiple sellers of goods or services.	Mont. Code Ann. §30-14-108(1) A gift certificate is valid until redemption and does not terminate.	Mont. Code Ann. §30-14-108(3) A gift certificate may not be reduced in value by any fee, including a dormancy fee.	Mont. Code Ann. §30-14-108(4) If the original value of the gift certificate was more than $5 and the remaining value is less than $5 and the possessor requests cash for the remainder, the issuer or seller shall redeem the gift certificate for cash.	Mont. Code Ann. §70-9-803(g) A gift certificate is presumed abandoned three years after December 31 of the year in which the certificate was sold, but if redeemable in merchandise only, the amount abandoned is considered to be 60 percent of the certificate's face value. A gift certificate is not presumed abandoned if the gift certificate was sold by a person who in the past fiscal year sold no more than $200,000 in gift certificates, which amount must be adjusted by November of each year by the inflation factor defined in 15-30-101. The amount considered abandoned for a person who sells more than the amount that triggers presumption of abandonment is the value of gift certificates greater than that trigger.
Nebraska	Neb. Rev. Stat. §69-1301(d) General-use prepaid card means a plastic card or other electronic payment device usable with multiple, unaffiliated sellers of goods or services.	Neb. Rev. Stat. §69-1305.03 Gift cards/certificates subject to an expiration date shall have a statement clearly and conspicuously stating the expiration date. The statement may appear on the front or back of the gift certificate or gift card in a location where it is visible to a purchaser prior to the purchase. Excludes general-use prepaid cards.	Neb. Rev. Stat. §69-1305.03 A gift certificate or gift card subject to a fee shall contain a statement clearly and conspicuously printed on it stating whether there is a fee, the amount of the fee, how often the fee will occur, that the fee is triggered by inactivity of the gift certificate or gift card, and when the fee will be assessed. The statement may appear on the front or back of the gift certificate or gift card in a location where it is visible to a purchaser prior to the purchase. Excludes general-use prepaid cards.		Neb. Rev. Stat. §69-1305.03 (a) A gift certificate or gift card which is not assessed any fees and does not have an expiration date shall not be presumed to be abandoned. (b) A gift certificate or gift card which contains an expiration date or requires any type of post-sale finance charge or fee which is unredeemed for a period of three years from the date of issuance shall be presumed abandoned. (c) A gift certificate or gift card issued prior to November 2, 2006, which contains an expiration date or requires any type of post-sale finance charge or fee and has not been redeemed shall not be presumed abandoned if the issuer's policy and practice as of July 1, 2006, is to waive all post-sale charges or fees and to honor such gift certificate or gift card, at no additional cost to the holder whenever presented at full face value or the value remaining after any applicable purchases, expiration date notwithstanding. A written notice of such policy and practice shall be posted conspicuously by July 1, 2006, in not smaller than 10-point type, at each site in all Nebraska locations at which the issuer distributes or redeems a gift certificate or gift card. (d) In the case of a gift certificate or gift card, the amount presumed abandoned is the face amount of the certificate or card itself, less the total amount of any applicable purchases and fees.
Nevada	Nev. Rev. Stat. §598.0921(3) "Gift certificate" means an instrument or a record evidencing a promise by the seller or issuer of the instrument or record to provide goods or services to the holder of the gift certificate for the value shown in, upon or ascribed to the instrument or record and for which the value shown in, upon or ascribed to the instrument or record is decreased in an amount equal to the value of goods or services provided by the issuer or seller to the holder. The term includes, without limitation, a gift card, certificate or similar instrument.	Nev. Rev. Stat. §598.0921(1)(a) Expiration date or toll-free phone number to inquire regarding the balance and expiration date must be conspicuous.	Nev. Rev. Stat. §598.0921(1)(b) Requires that a gift certificate cannot have a service fee, unless each of the following is printed plainly and conspicuously on the front or back of the gift certificate in at least 10-point font and in such a manner that the print is readily visible to the buyer of the gift certificate before the buyer purchases the gift certificate: (1) The amount of the service fee; (2) The event or events that will cause the service fee to be imposed; (3) The frequency with which the service fee will be imposed; and (4) If the service fee will be imposed on the basis of inactivity, the duration of inactivity, which must not be less than three continuous years of nonuse, that will cause the service fee to be imposed. Nev. Rev. Stat. §598.0921(1)(c) Regardless of the notice provided, (1) A service fee or a combination of service fees cannot exceed a total of $1 per month; or (2) A service fee cannot commence or be imposed within the first 12 months after the issuance of the gift certificate.		Nev. Rev. Stat. §120A.520 Sixty percent of the unredeemed or uncharged value remaining on a gift certificate which is issued or sold in this state and which has an expiration date is presumed abandoned and subject to the provisions of this chapter on the expiration date. If a gift certificate is issued or sold in this state and the seller or issuer does not obtain and maintain in his records the name and address of the owner of the gift certificate, the address of the owner of the gift certificate shall be deemed to be the address of the office of the state treasurer in Carson City.
New Hampshire	N.H. Rev. Stat. Ann. §358-A:1 "Gift certificate" means a written promise given in exchange for payment to provide the bearer, upon presentation, goods or services in a specified amount.	N.H. Rev. Stat. Ann. §358-A:2 Expiration date prohibited for gift certificates valued at less than $100.	N.H. Rev. Stat. Ann. §358-A:2 Service fees on gift certificates prohibited.		N.H. Rev. Stat. Ann. §358-A:2 Gift certificates having a face value in excess of $100 shall expire when escheated to the state as abandoned property pursuant to RSA 471-C. N.H. Rev. Stat. Ann. §471-C:2 Intangible property unclaimed by the owner for five years is abandoned. N.H. Rev. Stat. Ann. §471-C:16 All gift certificates remitted to the state prior to January 1, 1998, and gift certificates that are properly determined to be reportable in any compliance audits initiated prior to January 1, 1998 and subsequently remitted, shall remain in the custody of the state unless and until returned to the owner.
New Jersey	N.J. Rev. Stat. §56:8-110(c) "Gift card" means a tangible device, whereon is embedded or encoded in an electronic or other format a value issued in exchange for payment, which promises to provide to the bearer merchandise of equal value to the remaining balance of the device. "Gift certificate" means a written promise given in exchange for payment to provide merchandise in a specified amount or of equal value to the bearer of the certificate. N.J. Rev. Stat. §46:30B-6 “Stored value card” means a record that evidences a promise, made for monetary or other consideration, by the issuer or seller of the record that the owner of the record will be provided, solely or a combination of, merchandise, services, or cash in the value shown in the record, which is pre-funded and the value of which is reduced upon each redemption. The term “stored value card” includes, but is not limited to the following items: paper gift certificates, records that contain a microprocessor chip, magnetic stripe or other means for the storage of information, gift cards, electronic gift cards, rebate cards, stored-value cards or certificates, store cards, and similar records or cards. N.J. Rev. Stat. §46:30B-42.1(k) "General purpose reloadable card" means a stored value card issued by a bank or other similarly regulated financial institution or by a licensed money transmitter that is (1) usable and honored upon presentation at multiple merchants or service providers that are not under common ownership or control for goods or services or at automated teller machines, (2) issued in a requested prepaid amount which amount may be, at the option of the issuer, increased in value or reloaded if requested by the cardholder, and (3) not marketed or labeled as a gift card; the term "reloadable card" includes a temporary non-reloadable card issued solely in connection with a reloadable card.	N.J. Rev. Stat. §56:8-110(a)(1) The expiration date of the card/certificate shall not be less than 24 months after the date of sale. Terms regarding expiration date must be disclosed as specified. N.J. Rev. Stat. §46:30B-42.1(i) The funds associated with a stored value card sold on or after December 1, 2012 shall be valid until redemption and shall not expire. However, a stored value card may contain an expiration date to the extent permitted by federal law that applies only to the card or other tangible medium through which the underlying funds can be accessed, provided those underlying funds do not expire.	N.J. Rev. Stat. §56:8-110(a) No dormancy fee shall be assessed on a gift card/certificate within 24 months of the date of sale or within 24 months of the most recent activity or transaction. Fee shall not exceed $2 per month. Terms regarding fees must be disclosed as specified. N.J. Rev. Stat. §46:30B-42.1(j) For stored value cards sold on or after December 1, 2012, in addition to the requirements of §37 of P.L.2002, c.35 (C.46:30B-43.1), no fees or charges shall be imposed on a stored value card except that the issuer may charge (1) an activation, issuance, purchase or similar fee related to the issuance and purchase of a stored value card and for each occurrence of adding value to an existing stored value card; and (2) a replacement card fee with respect to lost, stolen or damaged stored value cards provided that these fees are disclosed in writing prior to issuance or referenced on the stored value card or the stored value card packaging. The state treasurer may adopt regulations regarding the establishment of activation, issuance, purchase or similar fees, fees for adding value to an existing stored value card, and replacement card fees. A general purpose reloadable card shall not be subject to the provisions of this subsection.	N.J. Rev. Stat. §56:8-110(c) If a stored value card deemed a gift card or gift certificate pursuant to §5 of P.L.2010, c.25 (C.46:30B-42.1) is redeemed and a balance of less than $5 remains on the card after redemption, at the owner’s request the merchant or other entity redeeming the card shall refund the balance in cash to the owner. A merchant or other entity required to comply with the provisions of this subsection shall be liable to a penalty of $500 for each violation plus restitution of the amount of the cash value remaining on the stored value card, provided however that the amount of the penalty shall be trebled for an aggregate of 100 such violations occurring during any 12 month period. Failure to provide requested cash redemption for each stored value card shall be considered a separate violation.	N.J. Rev. Stat. §46:30B-42.1 a. A stored value card for which there has been no stored value card activity for five years is presumed abandoned. This subsection shall apply to any stored value card issued on or after July 1, 2010. b. The proceeds of a general purpose reloadable card presumed abandoned shall be the value of the card, in money, on the date the general purpose reloadable card is presumed abandoned. The proceeds of all other stored value cards presumed abandoned shall be 60 percent of the value of the card, in money, on the date the stored value card is presumed abandoned.
New Mexico	N.M. Stat. Ann. §57-12-26(A) "Gift certificate" means a writing identified as a gift certificate that is not redeemable in cash and is usable in its face amount in lieu of cash in exchange for goods or services supplied by a seller, but does not include a gift certificate useable with multiple unaffiliated sellers or goods or services. "Gift certificate" includes an electronic card with a banked dollar value, a merchandise credit, a certificate where the issuer has received payment for the full face value for the future purchase or delivery of goods or services and any other medium that evidences the giving of consideration in exchange for the right to redeem the certificate, electronic card or other medium for goods or services of at least an equal value. "Gift certificate" does not include gift certificates issued by banks, savings and loan associations and their affiliates and subsidiaries, licensed money transmitters or credit unions operating pursuant to the laws of the United States or New Mexico.	N.M. Stat. Ann. §57-12-26(B) A gift certificate shall not have an expiration date less than 60 months after the date upon which the gift certificate was issued If an expiration date is not conspicuously stated on a gift certificate, that gift certificate shall be presumed to have no expiration date and shall be valid until redeemed or replaced.	N.M. Stat. Ann. §57-12-26(C) An issuer of a gift certificate shall not charge a fee of any kind in relation to the sale, redemption or replacement of a gift certificate other than an initial charge not exceeding the face value of the gift certificate, nor may a gift certificate be reduced in value by any fee, including a service or dormancy fee.		N.M. Stat. Ann. §7-8A-2(A)(7) Gift certificate, five years after December 31 of the year in which the certificate was sold, but if redeemable in merchandise only, the amount abandoned is deemed to be 60 percent of the certificate's face value.
New York	N.Y. Abandoned Property Law §103 "Gift certificate" shall mean a written promise or electronic payment device that: (i) is usable at a single merchant or an affiliated group of merchants that share the same name, mark, or logo, or is usable at multiple, unaffiliated merchants or service providers; and (ii) is issued in a specified amount; and (iii) may or may not be increased in value or reloaded; and (iv) is purchased and/or loaded on a prepaid basis for the future purchase or delivery of any goods or services; and (v) is honored upon presentation.	N.Y. General Business Law §396-i Expiration date must be conspicuously disclosed to purchaser as specified.	N.Y. General Business Law §396-i Any service fees must be conspicuously disclosed to purchaser; no service fee may be assessed before the 13^th month after issuance.		N.Y. Abandoned Property Law §1315 Any unclaimed amount representing unredeemed gift certificates sold after December 31, 1983, including gift certificates for merchandise only in which case the face value of such certificate shall be deemed the amount deemed abandoned, and owing in this state after five years.
North Carolina	N.C. Gen. Stat. §66-67.5 "Gift card" means a record evidencing a promise, made for monetary consideration, by a seller or issuer that goods or services will be provided to the owner of the record to the value shown in the record. A gift card includes a record that contains a microprocessor chip, magnetic strip, or other storage medium that is prefunded and for which the value is adjusted upon each use, a gift certificate, a stored‑value card or certificate, a store card. The provisions of this section shall not apply to gift cards that are issued by a financial institution or its operating subsidiary and that are usable at multiple unaffiliated sellers of goods or services.		N.C. Gen. Stat. §66-67.5 The seller or issuer of a gift card must conspicuously disclose any maintenance fee charges at the time of purchase. The disclosure must be visible on the gift card itself. No person, firm, or corporation engaged in commerce shall charge any maintenance fee on a gift card for one calendar year following the date of the purchase of the gift card.		N.C. Gen. Stat. §116B-53(c)(8) Any gift certificate or electronic gift card bearing an expiration date and remaining unredeemed or dormant for more than three years after the gift certificate or electronic gift card was sold is deemed abandoned. The amount abandoned is deemed to be 60 percent of the unredeemed portion of the face value of the gift certificate or the electronic gift card. N.C. Gen. Stat. §116B-54(b) A gift certificate or electronic gift card is not abandoned property when the gift certificate or electronic gift card: (1) Conspicuously states that the gift certificate or electronic gift card does not expire; (2) Bears no expiration date; or (3) States that a date of expiration printed on the gift certificate or electronic gift card is not applicable in North Carolina.
North Dakota	N.D. Cent. Code §51-29-01 "Gift certificate" means a record evidencing a promise, made for monetary consideration, by the seller or issuer of the record that goods or services will be provided to the owner of the record to the value shown in the record. The term includes a record that contains a microprocessor chip, magnetic strip, or other means of storage of information that is prefunded and for which the value is decreased upon each use; a gift card; an electronic gift card; an online gift account; a stored-value card; a store card; a prepaid telephone card; or a similar record or card. The term does not include a general-use prepaid card issued by a prepaid card issuer, including a plastic card or other electronic payment device that is usable at multiple, unaffiliated merchants or service providers or at an automatic teller machine, and purchased or loaded on a prepaid basis; a general-use prepaid card issued by a prepaid card issuer and purchased by a person that is not an individual; or a debit card linked to a deposit account.	N.D. Cent. Code §51-29-02 An expiration date must be more than six years after the date of purchase.	N.D. Cent. Code §51-29-02 Prohibits service fees.		N.D. Cent. Code §47-30.1-01 et seq. Gift certificates are not specifically included.
N. Mariana Islands	Statutes unavailable to access
Ohio	Ohio Rev. Code Ann. §1349.61 "Gift card" means a certificate, electronic card, or other medium issued by a merchant that evidences the giving of consideration in exchange for the right to redeem the certificate, electronic card, or other medium for goods, food, services, credit, or money of at least an equal value, including any electronic card issued by a merchant with a monetary value where the issuer has received payment for the full monetary value for the future purchase or delivery of goods or services and any certificate issued by a merchant where the issuer has received payment for the full monetary face value of the certificate for the future purchase or delivery of goods and services.	Ohio Rev. Code Ann. §1349.61 Prohibits an expiration date less than two years after issuance. A gift card sold without an expiration date is valid until redeemed or replaced with new card.	Ohio Rev. Code Ann. §1349.61 Prohibits any fees charged less than two years after issuance.		Ohio Rev. Code Ann. §169.01(B)(2)(d) Gift certificates are exempted from unclaimed property fund.
Oklahoma	Okla. Stat. tit. 15, §796 "Gift card" means a plastic card or other electronic payment device which is: (a) issued in a predenominated amount or in an amount requested by the consumer, (b) usable to purchase goods and/or services only at a single merchant or group of merchants that are affiliated through common corporate ownership or control, and (c) purchased by a consumer on a prepaid basis in exchange for payment. "Gift certificate" means a written promise which is: (a) issued in a specified amount, indicated on its face, and cannot be increased in value, (b) usable to purchase goods and/or services only at a single merchant or group of merchants that are affiliated through common corporate ownership or control, and (c) purchased by a consumer on a prepaid basis in exchange for payment.	Okla. Stat. tit. 15, §797 Prohibits expiration dates less than 60 months from the date of purchase. A gift certificate/card sold without an expiration date is valid until redeemed or replaced.	Okla. Stat. tit. 15, §797 Service fees prohibited, unless the remaining value on the card/certificate is $5 or less each time the fee is assessed; the fee does not exceed $1 per month; there has been no activity for 24 consecutive months including, but not limited to, purchases, the adding of value, or balance inquiries; the holder may reload or add value to the card/certificate; and the fee is disclosed as specified.		Okla. Stat. tit. 60, §651 et seq. Gift certificates are not specifically included.
Oregon	Or. Rev. Stat. §646A.274 "Gift card" means a prefunded record evidencing a promise that the issuer will provide goods or services to the owner of the record in the amount shown in the record. 'Gift card' does not include any gift card usable with more than one seller of goods or services.	Or. Rev. Stat. §646A.278 Except as provided below, a person may not sell a gift card that has an expiration date. A person may sell a gift card that has an expiration date if: (1) The gift card bears, in at least 10-point type, the words 'EXPIRES ON' or 'EXPIRATION DATE' followed by the date on which the card expires; (2) The person sells the gift card at a cost below the face value of the card; and (3) The gift card does not expire until at least 30 days after the date of sale.	Or. Rev. Stat. §646A.276 A person may not sell a gift card that has a face value that declines as a result of the passage of time or the lack of use of the card; or that has a fee related to the card, including, but not limited to, an inactivity fee, a maintenance fee or a service fee.	2011 Chapter 336 Or. Rev. Stat. §646A.276(1)(d) A person may not sell a gift card That does not give the cardholder the option to redeem the card for cash when the face value of the card has declined to an amount less than $5 and the card has been used for at least one purchase. For purposes of this paragraph, 'cash' means money or a check. (2) Subsection (1)(d) of this section does not apply to: (a) Gift cards that have been given for free or less than full consideration to a person or entity as a donation or as part of a promotional offer; (b) Gift cards issued by an entity that provides services that are subject to the federal Communications Act of 1934 (47 U.S.C. 151 et seq.); and (c) Gift cards redeemed to an online account for the purchase of goods or services. (3) Redemption under subsection (1)(d) of this section may be obtained only from the provider of goods or services indicated on the gift card regardless of whether the provider is the issuer of the gift card.	Or. Rev. Stat. §98.302(8) Gift certificates are not specifically included.
Pennsylvania	Pa. Stat. tit. 72, §1301.1 "General use prepaid cards" shall mean cards issued only by a bank or other similarly regulated financial institutions, or by a licensed money transmitter and shall mean plastic cards or other electronic payment devices which are: (1) usable and honored upon presentation at multiple, unaffiliated merchants or service providers for goods or services or at automated teller machines (ATMs); and issued in a requested prepaid amount which amount may be, at the option of the issuer, increased in value or reloaded if requested by the holder. The term shall not include debit cards linked to a deposit account or prepaid telephone calling cards. "Gift card" shall mean plastic cards or other electronic payment devices which are: (I) usable and honored upon presentation at a single merchant or an affiliated group or merchants that share the same name, mark or logo, or usable at multiple, unaffiliated merchants or service providers for the future purchase or delivery of any goods or services; and (II) issued in a specified prepaid amount and may or may not be increased in value or reloaded. "Gift certificate" shall mean a written promise which is: usable and honored upon presentation at a single merchant or an affiliated group of merchants that share the same name, mark or logo, or usable at multiple, unaffiliated merchants or service providers for the future purchase or delivery of any goods or services; and(ii) issued in a specific prepaid amount and may or may not be increased in value or reloaded. "Qualified gift certificate" shall mean a gift certificate or gift card that does not contain any of the following: (i) An expiration date or a period of time after which it expires. (ii) Any type of postsale charge or fee, including, but not limited to, a service charge, dormancy fee, account maintenance fee, cash out fee, replacement card fee or activation or reactivation fee.				Pa. Stat. tit. 72, §1301 et seq. The following property held or owing by a business association is presumed abandoned and unclaimed: The consideration paid for a gift certificate or gift card which has remained unredeemed for two years or more after its redemption period has expired or for five years or more from the date of issuance if no redemption period is specified. The provisions of this clause shall not apply to a qualified gift certificate.
Puerto Rico					P.R. Code tit. 7, §2101 et seq. Gift certificates are not specifically included.
Rhode Island	R.I. Gen. Laws §6-13-12 "Gift certificate" means a record evidencing a promise, made for monetary consideration, by the seller or issuer for the record that goods or services will be provided to the owner of the record to the value shown in the record and includes, but is not limited to, a record that contains a microprocessor chip, magnetic strip or other means of storage of information that is pre-funded and for which the value is decremented upon each use, a gift card, an electronic gift card, stored-value card or certificate, a store card, prepaid long distance telephone service that is activated by a prepaid card that requires dialing an access number or an access code for each call in addition to dialing the phone number to which the user of the prepaid card seeks to connect, or a similar record or card.	R.I. Gen. Laws §6-13-12 Prohibits expiration dates. R.I. Gen. Laws §6-13-12.1 Any gift certificate/card as defined in §6-13-12 which has been donated for fundraising purposes, shall be exempt from the provisions of §6-13-12 relating to expiration dates, provided, that the gift certificate/card clearly states that the gift certificate/card has been donated for charity purposes and is subject to a clearly defined expiration date, not less than one year from the issuance of the gift certificate/card to the gift certificate/card recipient.	R.I. Gen. Laws §6-13-12 It shall be unlawful for any person, firm, or corporation of any kind to charge any surcharge or additional monthly or annual service or maintenance fees on gift certificates. Any person, firm, or corporation that shall violate the provisions of this section shall be punished by a fine of not more than $200.	R.I. Gen. Laws §6-13-12 Any unused portion of a redeemed gift certificate shall be afforded to the consumer by reissuing the gift certificate for the unused amount or providing cash where the balance due the consumer is less than $1.	R.I. Gen. Laws §6-13-12 Due to the unlimited redemption period, the division of taxation shall not escheat the funds paid for those unredeemed gift certificates. R.I. Gen. Laws §33-21.1-1 et seq. Pursuant to § 6-13-12, gift certificates shall not be presumed to be abandoned.
South Carolina	S.C. Code Ann. §39-1-55(A) "Gift certificate" means a certificate that is issued or sold by a person engaged in the business of offering goods or services for sale at retail and that entitles a recipient of the certificate to the delivery of goods or services from the person who issued or sold the certificate. This term includes a gift card used for the same purpose as a gift certificate.	S.C. Code Ann. §39-1-55(B) Gift certificates cannot expire before the first anniversary of the date the certificate was sold or issued, unless the expiration date is disclosed as specified.	S.C. Code Ann. §39-1-55(C) Prohibits any fees unless properly disclosed as specified.		S.C. Code Ann. §27-18-10 et seq. Gift certificates are not specifically included.
South Dakota					S.D. Codified Laws Ann. §43-41B-15 A gift certificate issued in the ordinary course of an issuer's business which remains unclaimed by the owner for more than five years after becoming payable or distributable is presumed abandoned. The amount presumed abandoned is the price paid by the purchaser for the gift certificate. S.D. Codified Laws Ann. §43-41B-40 The provisions of this chapter do not apply to open-loop prepaid cards for which the underlying funds do not expire and the records of the depository institution do not disclose the identity of the actual owner. For the purposes of this section, an open-loop prepaid card is an electronic payment device that meets the following conditions: (1) Is purchased or loaded, or both, on a prepaid basis for the future purchase or delivery of any goods or services; and (2) Can be used to purchase goods and services at multiple unaffiliated merchants or service providers. S.D. Codified Laws Ann. §43-41B-42 Any unredeemed gift certificate or closed-loop card that meets the requirements of §43-41B-43 or any open-loop prepaid card or rewards card is subject only to any rights of a purchaser or owner of the gift certificate or card and is not subject to any claim made by any state acting on behalf of a purchaser or owner. S.D. Codified Laws Ann. §43-41B-43 The provisions of this chapter do not apply to any gift certificate or closed-loop prepaid card that has no expiration date and that is not subject to a dormancy, inactivity, or service fee. For purposes of this chapter, a closed-loop prepaid card is an electronic payment device that meets the following conditions: (1) Is purchased or loaded, or both, on a prepaid basis in exchange for payment for the future purchase or delivery of goods or services; and (2) Is redeemable upon presentation to a single merchant or an affiliated group of merchants for goods and services.
Tennessee	Tenn. Code Ann. §47-18-127 A gift certificate does not include a prepaid calling card used to make telephone calls or a prepaid card usable at multiple, unaffiliated merchants or at automated teller machines, or both.	Tenn. Code Ann. §47-18-127 Prohibits gift certificates from containing an expiration date less than two years after issuance. If sold without an expiration date, a gift certificate is valid until redeemed or replaced with a new card.	Tenn. Code Ann. §47-18-127 Prohibits charging a fee to issue a gift certificate. Prohibits service charges or fees less than two years after issuance.		Tenn. Code Ann. §66-29-135 A gift certificate issued in the ordinary course of an issuer's business is presumed abandoned if it remains unclaimed by the owner upon the earlier of: (1) The expiration date of the certificate; or (2) Two years from the date the certificate was issued. The amount presumed abandoned is the price paid by the purchaser for the gift certificate. If a gift certificate issued after December 31, 1996, is redeemable for merchandise only, then the amount presumed abandoned is 60 percent of the price paid by the purchaser for the certificate. A gift certificate issued after December 31, 1998, shall not be abandoned property and shall not be subject to this part if the issuer of the certificate does not impose a dormancy charge and when the gift certificate: (1) Conspicuously states that the gift certificate does not expire; (2) Bears no expiration date; or (3) States that a date of expiration printed on the gift certificate is not applicable in Tennessee. Property described above, without regard to any activity or inactivity within the past five years, shall also be presumed abandoned if the owner thereof is known to the holder to have died and left no one to take such property by will and no one to take such property by intestate succession.
Texas	Tex. Business & Commerce Code §604.001 "Stored value card": (1) means a record, as defined by §322.002, including a record that contains a microprocessor chip, magnetic strip, or other means of storing information: (A) that evidences a promise made for monetary consideration by the seller or issuer of the record that goods or services will be provided to the owner of the record in the value shown in the record; (B) that is prefunded; and (C) the value of which is reduced on redemption; and (2) includes a gift card or gift certificate.	Tex. Business & Commerce Code Ann. §604.101 An expiration date or policy, fee, or other material restriction or contract term applicable to a stored value card must be clearly and conspicuously disclosed at the time the card is sold or issued to a person to enable the person to make an informed decision before purchasing the card. Tex. Business & Commerce Code Ann. §604.102 A disclosure regarding the expiration of a stored value card or a periodic fee that reduces the unredeemed value of a stored value card must be legibly printed on the card.	Tex. Business & Commerce Code Ann. §604.051 If disclosed as required by Subchapter C, the issuer of a stored value card may impose and collect a reasonable: (1) handling fee in connection with the issuance of or adding of value to the card; (2) access fee for a card transaction conducted at an unmanned teller machine, as defined by §59.301, Finance Code; and (3) reissue or replacement charge if an expired or lost card is reissued or replaced. Tex. Business & Commerce Code Ann. §604.052 The issuer of a stored value card may impose or collect a periodic fee or other charge that causes the unredeemed balance of the card to decrease over time only if the fee: (1) is reasonable; (2) is not assessed until after the first anniversary of the date the card is sold or issued; and (3) is disclosed as required by Subchapter C.		Tex. Property Code Ann. §72.1016 (a) This section applies to a stored value card, as defined by §604.001, Business & Commerce Code, other than a card: (1) to which Chapter 604, Business & Commerce Code, does not apply by operation of §604.002(1)(A) and (C) and §604.002(2)-(5) of that code; or (2) that is linked to and draws its value solely from a deposit account subject to Chapter 73. (b) If the existence and location of the owner of a stored value card is unknown to the holder of the property, the stored value card is presumed abandoned to the extent of its unredeemed and uncharged value on the earlier of: (1) the card's expiration date; (2) the third anniversary of the date the card was issued, if the card is not used after it is issued, or the date the card was last used or value was last added to the card; or (3) the first anniversary of the date the card was issued, if the card is not used after it is issued, or the date the card was last used or value was last added to the card, if the card's value represents wages, as defined by §61.001, Labor Code. (c) If the person who sells or issues a stored value card in this state does not obtain the name and address of the apparent owner of the card and maintain a record of the owner's name and address and the identification number of the card, the address of the apparent owner is considered to be the Austin, Texas, address of the comptroller. (d) A person may charge a fee against a stored value card as provided by Chapter 604, Business & Commerce Code. A fee may not be charged against a stored value card after the card is presumed abandoned under this section.
Utah	Utah Code Ann. §67-4a-102 "Gift card" means a payment device such as a plastic card that: (a) is usable at: (i) a single merchant; (ii) an affiliated group of merchants; or (iii) multiple, unaffiliated merchants; (b) contains a means for the electronic storage of information including: (i) a microprocessor chip; (ii) a magnetic stripe; or (iii) a bar code; (c) is prefunded before it is used, whether or not monies may be added to the payment device after it is used; and (d) is redeemable for goods or services.	Utah Code Ann. §13-11-4(2)(v) Makes it a violation of the Utah Consumer Sales Practices Act to issue a gift certificate that has an expiration date without disclosing the expiration date on the gift certificate or its packaging. Does not apply to a gift certificate, instrument, or other record useable at multiple, unaffiliated sellers of goods or services if an expiration date is printed on the gift certificate, instrument, or other record. Utah Code Ann. §13-11-4(4)(a) A gift certificate, instrument, or other record that does not print an expiration date in accordance with Subsection (2)(v) does not expire.	Utah Code Ann. §13-11-4(2)(v) Makes it a violation of the Utah Consumer Sales Practices Act to issue a gift certificate that deducts a fee without disclosing the fee on the gift certificate or its packaging. Does not apply to a gift certificate, instrument, or other record useable at multiple, unaffiliated sellers of goods or services if an expiration date is printed on the gift certificate, instrument, or other record. Utah Code Ann. §13-11-4(4)(b) A gift certificate, instrument, or other record that does not include printed information concerning a fee to be charged and deducted from the balance of the gift certificate, instrument, or other record is not subject to the charging and deduction of the fee. Does not apply to a gift certificate, instrument, or other record useable at multiple, unaffiliated sellers of goods or services if an expiration date is printed on the gift certificate, instrument, or other record.		Utah Code Ann. §67-4a-211 Notwithstanding that one or more of the following remain unreconsidered, it may not be considered abandoned for purposes of this chapter: (1) a gift certificate; (2) a gift card; or (3) a credit memo.
Vermont	Vt. Stat. Ann. tit. 8, §2701 "Gift certificate" means a record evidencing a promise made for consideration by the seller or issuer of the record that money, goods, or services will be provided to the holder of the record for the value shown in the record. A "gift certificate" includes, but is not limited to, a record that contains a microprocessor chip, magnetic strip, or other means for the storage of information that is prefunded and for which the value is decremented upon each use; a gift card; an electronic gift card; a stored-value card or certificate; a store card; or a similar record or card. “Loyalty, award, or promotional gift certificate” means a gift certificate that is issued on a prepaid basis primarily for personal, family, or household purposes to a consumer in connection with a loyalty, award, or promotional program and that is redeemable upon presentation to one or more merchants for goods or services or that is usable at automated teller machines.	Vt. Stat. Ann. tit. 8, §2702 The paid value of a gift certificate sold or offered to be sold shall be valid for not less than five years after its date of issuance or after the date funds were last loaded onto the gift certificate, whichever is later. A gift certificate not clearly marked with an expiration date or for which the expiration date is not otherwise made available as provided in this section shall be deemed to have no expiration date. Vt. Stat. Ann. tit. 8, §2702a A loyalty, award, or promotional gift certificate shall clearly and legibly set forth the following disclosures, as applicable: (2) The expiration date for both the paid value of the gift certificate, if any, and the promotional value of the gift certificate, if any, which shall be included on the front of the gift certificate.	Vt. Stat. Ann. tit. 8, §2703 Prohibits dormancy fees, latency fees, issuance fees, redemption fees, or any other administrative fees or service charges in connection with a gift certificate. Vt. Stat. Ann. tit. 8, §2702a A loyalty, award, or promotional gift certificate shall clearly and legibly set forth the following disclosures, as applicable: (3) The amount of any fees that may be imposed in connection with the gift certificate and the conditions under which they may be imposed, which shall be provided on or with the gift certificate; and (4) If any fee is assessed against the gift certificate, a toll-free telephone number and, if one is maintained, a website address that a consumer may use to obtain fee information, which shall be included on the gift certificate.	Vt. Stat. Ann. tit. 8, §2704 If the remaining value of a gift certificate is less than $1, the gift certificate shall be redeemable in cash for its remaining value upon the demand of the holder of the gift certificate.	Vt. Stat. Ann. tit. 27, §1241 et seq. Gift certificates are not specifically included.
Virginia	Va. Code §59.1-530 "Gift certificate" or "certificate" means a certificate, electronic card, or other medium issued by a merchant that evidences the giving of consideration in exchange for the right to redeem the certificate, electronic card, or other medium for goods, food, services, credit, or money of at least an equal value, including any electronic card issued by a merchant with a banked dollar value where the issuer has received payment for the full banked dollar value for the future purchase, or delivery, of goods or services and any certificate issued by a merchant where the issuer has received payment for the full face value of the certificate for future purchases, or delivery, of goods or services.	Va. Code §59.1-531 Each gift certificate issued by a merchant in the Commonwealth that has an expiration date shall include either (i) a statement of the expiration date of the certificate or (ii) a telephone number or Internet address where the holder of the certificate may obtain information regarding the expiration date of the certificate.	Va. Code §59.1-531 Each gift certificate issued by a merchant in the Commonwealth that diminishes in value over time shall include a telephone number or Internet address where the holder of the certificate may obtain information regarding the diminution in the value of the certificate over time.		Va. Code §55-210.8:1 A gift certificate or credit balance issued in the ordinary course of the issuer's business that has remained unclaimed by the owner for more than five years after becoming payable is presumed abandoned, unless redeemable in merchandise, in services, or through future purchases.
Virgin Islands					V.I. Code tit. 28, §653 Property is presumed abandoned if it is unclaimed by the apparent owner three years after December 31 of the year in which the certificate was cold, but if redeemable in merchandise only, the amount abandoned is deemed to be 60 percent of the certificates face value.
Washington	Wash. Rev. Code §19.240.010 "Gift card" means a record as described in subsection (5) of this section in the form of a card, or a stored value card or other physical medium, containing stored value primarily intended to be exchanged for consumer goods and services. "Gift certificate" means an instrument evidencing a promise by the seller or issuer of the record that consumer goods or services will be provided to the bearer of the record to the value or credit shown in the record and includes gift cards.	Wash. Rev. Code §19.240.020(1)(a) and §19.240.030 Expiration date is not allowed unless no money was paid for gift certificate or when certificate is valid for artistic or cultural organizations and disclosed to the user.	Wash. Rev. Code §19.240.040 Can enforce a dormancy or inactivity charge if: (1) disclosed as specified; (2) The remaining value of the gift card is $5 or less each time the charge is assessed; (3) The charge does not exceed $1 per month; (4) The charge can only be assessed when there has been no activity on the gift card for 24 consecutive months, including but not limited to, purchases, the adding of value, or balance inquiries; (5) The bearer may reload or add value to the gift card; and (6) After a dormancy or inactivity charge is assessed, the remaining value of the gift certificate is redeemable in cash on demand.	Wash. Rev. Code §19.240.020(3) If a purchase is made with a gift certificate for an amount that is less than the value of the gift certificate, the issuer must make the remaining value available to the bearer in cash or as a gift certificate at the option of the issuer. If after the purchase the remaining value of the gift certificate is less than $5, the gift certificate must be redeemable in cash for its remaining value on demand of the bearer.	Wash. Rev. Code §63.29.140 (1) A gift certificate or a credit memo issued in the ordinary course of an issuer's business which remains unclaimed by the owner for more than three years after becoming payable or distributable is presumed abandoned. (2) In the case of a gift certificate, the amount presumed abandoned is the price paid by the purchaser for the gift certificate. In the case of a credit memo, the amount presumed abandoned is the amount credited to the recipient of the memo. (3) A gift certificate that is presumed abandoned under this section may, but need not be, included in the report as provided under RCW 63.29.170(4). If a gift certificate that is presumed abandoned under this section is not timely reported as provided under RCW 63.29.170(4), RCW 19.240.005 through 19.240.110 apply to the gift certificate. Wash. Rev. Code §19.240.005 et seq. It is the intent of the legislature to relieve businesses from the obligation of reporting gift certificates as unclaimed property. In order to protect consumers, the legislature intends to prohibit acts and practices of retailers that deprive consumers of the full value of gift certificates, such as expiration dates, service fees, and dormancy and inactivity charges, on gift certificates. The legislature does not intend that chapter 168, Laws of 2004 be construed to apply to cards or other payment instruments issued for payment of wages or other intangible property. To that end, the legislature intends that chapter 168, Laws of 2004 should be liberally construed to benefit consumers and that any ambiguities should be resolved by applying the uniform unclaimed property act to the intangible property in question. An issuer is not required to honor a gift certificate presumed abandoned under RCW 63.29.110, reported, and delivered to the department of revenue in the dissolution of a business association. Wash. Rev. Code §63.29.110 Intangible property distributable in the course of a dissolution of a business association which remains unclaimed by the owner for more than one year after the date specified for final distribution is presumed abandoned.
West Virginia					W. Va. Code §36-8-2(a)(7) Gift certificate, three years after the thirty-first day of December of the year in which the certificate was sold, but if redeemable in merchandise only, the amount abandoned is deemed to be 60 percent of the certificate's face value.
Wisconsin					Wis. Stat. §177.01 et seq. Gift certificates are not specifically included.
Wyoming					Wyo. Stat. §34-24-114 A gift certificate in an amount greater than $100 that remains unredeemed for more than three years after issuance is deemed abandoned. The amount deemed abandoned is the price paid for the certificate itself.

PLEASE NOTE: Please note the summaries should be used for general informational purposes and not as a legal reference. NCSL is unable to provide guidance to citizens or businesses regarding gift cards and gift certificate laws and practices. If you have questions regarding issuing or redeeming a gift card or gift certificate or a retailer's practices, please contact the Office of the Attorney General in your state.

STATE LEGISLATION

2012 | 2011 | 2010 | 2009 | 2008

2013 Legislation

Colorado
H.B. 1102
Sent to governor 3/8/13
Creates an exemption from the Unclaimed Property Act for any gift cards issued by businesses with a specified amount of gross receipts for the sales or issuance of all gift cards.

Connecticut
S.B. 912
Permits a purchaser of or individual who increases or reloads funds onto a general-use prepaid card, code or device to (1) receive back the unexpended balance and accrued interest on such balance by way of a financial account that is linked to such card, code or device, (2) receive back the unexpended balance and accrued interest in an expedited manner, and (3) transfer the unexpended balance to a bank offering a higher yield and insurance from the FDIC on such balance.

Georgia
S.B. 190
Amends Article 5 of Chapter 12 of Title 44 of the Official Code of Georgia Annotated, the "Disposition of Unclaimed Property Act," so as to provide for the presumption of abandonment of gift certificates, gift cards, and credit memos that remain unclaimed one year after issuance; to provide for disposition of funds.

Iowa
H.F. 85
This bill relates to amounts which the issuer of a gift certificate may deduct from the face value of the certificate based on the failure of the owner to present the certificate for payment in a timely manner.

Maine
L.D. 913
This bill amends the Uniform Unclaimed Property Act to exempt gift obligations and stored-value cards that are redeemable with multiple unaffiliated sellers from the provision in the Act that prohibits expiration dates for gift obligations and stored-value cards.

Minnesota
H.F. 1244
S.F. 1375
Relates to commerce; regulates unclaimed property; enacts and modifies the Uniform Unclaimed Property Act of 1995 adopted and recommended for passage by the National Conference of Commissioners on Uniform State Laws; makes conforming changes in state law.

Mississippi
H.B. 249
Died in committee 2/5/13
Enacts the Mississippi Uniform Unclaimed Property Act; provides that the State Treasurer shall be the administrator of unclaimed property in Mississippi; sets forth definitions; provides presumptions of abandonment; provides rules for taking custody of abandoned property; establishes the burden of proof as to property evidenced by record of check or draft; provides for the reporting of abandoned property; provides for the payment or delivery of abandoned property.

H.B. 1458
Died in committee 2/5/13
Prohibits the sale of gift cards or certificates with expiration dates, service fees or dormancy fees.

New Jersey
A.B. 1251
This bill provides that a gift certificate or gift card sold after the effective date of the bill will retain full unused value until presented in exchange for merchandise. Thus, this bill creates a gift certificate or gift card that never expires nor has a dormancy fee charged against it.

A.B. 1871
Passed Assembly 3/15/12
S.B. 1962
Reverses certain changes to laws governing state treatment of unclaimed property for gift certificates and stored value cards.

A.B. 2076
Mandates that gift cards and certificates be redeemable at full value in perpetuity; places requirements on establishments accepting store gift cards.

New York
A.B. 1627
Directs the commissioner of Environmental Conservation to create gift cards for hunting and fishing licenses.

A.B. 2984
Provides that gift certificates and store credits shall not contain expiration dates, except in limited circumstances where they are issued for promotional purposes without value being given by the consumer; makes certificates or credit with an expiration date redeemable in cash or replaceable by a certificate or credit without an expiration date.

A.B. 4273
S.B. 2927
Creates the crime of criminal practices with an access device, including a gift card.

A.B. 4674
Prohibits the sale of gift certificates and gift cards that diminish in value due to dormancy; and prohibits surcharges and fees on gift certificates and gift cards.

A.B. 5907
Authorizes the commissioner of motor vehicles to establish gift cards for vanity plates.

A.B. 5915
Relates to the sale and use of gift certificates; requires that gift certificates last for at least seven years; requires that the date of issuance and the date of expiration of a gift certificate be either printed on the gift certificate, printed on a customer's receipt, or available through an Internet and toll-free telephone service.

A.B. 6052
Requires that gift certificates, gift cards, or store credits have no expiration or diminution in value over time.

Puerto Rico
S.B. 371
Adopts a new law in order to regulate the sale and use of gift cards, which will be known as the Law of Gift Cards.

Texas
H.B. 1723
Relates to the redemption of certain stored value cards, including gift cards, for cash.

Utah
H.B. 398
This bill modifies provisions in the Utah Consumer Sales Practices Act related to gift certificates. This bill: defines terms; prohibits application of an expiration date or a service fee, including a dormancy fee, to a gift certificate; and makes technical changes.

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2012 Legislation

Illinois
H.B. 252
Amends the Consumer Fraud and Deceptive Business Practices Act. Provides that the holder of a gift certificate issued on or after January 1, 2012 that has a balance of less than $10 must be given the option of receiving that balance in cash.

H.B. 4689
Sent to governor 6/14/12
Amends the Consumer Fraud and Deceptive Business Practices Act. Provides that the term "gift certificate" includes a credit slip issued by a store to a consumer who returns goods that enables the consumer to receive other goods of similar value in exchange for the returned goods.

H.B. 4971
Amends the Consumer Fraud and Deceptive Business Practices Act. Provides that the holder of a gift certificate issued on or after January 1, 2013 that has a balance of less than $10 must be given the option of receiving that balance in cash.

Iowa
H.F. 2171
This bill relates to amounts which the issuer of a gift certificate may deduct from the face value of the certificate based on the failure of the owner to present the certificate for payment in a timely manner. Currently, an amount may not be deducted unless a valid and enforceable written contract exists between the issuer and the owner of the gift certificate pursuant to which the issuer regularly imposes charges for failure to present and does not regularly reverse or otherwise cancel them. The bill makes this provision applicable only after a three-year time frame has elapsed from the date of issuance of the gift certificate, for gift certificates issued on or after July 1, 2012. The result is that no deduction is authorized from the face amount of a gift certificate for the three-year period following issuance for certificates issued on or after July 1, 2012.

Massachusetts
H.B. 128
Amends the definition of a gift certificate to be a writing identified as a gift certificate or a credit backed or bank issued gift card, purchased by a buyer for use by a person other than the buyer not redeemable in cash and usable in its face amount in lieu of cash in exchange for goods or services supplied by the seller.

New Jersey
A.B. 1251
This bill provides that a gift certificate or gift card sold after the effective date of the bill will retain full unused value until presented in exchange for merchandise. Thus, this bill creates a gift certificate or gift card that never expires nor has a dormancy fee charged against it.

A.B. 1871
Passed Assembly 3/15/12
S.B. 1962
Reverses certain changes to laws governing state treatment of unclaimed property for gift certificates and stored value cards.

A.B. 2076
Mandates that gift cards and certificates be redeemable at full value in perpetuity; places requirements on establishments accepting store gift cards.

A.B. 3045
Substituted by S.B. 1928 6/25/12
A.B. 3189
S.B. 1928
Signed by governor 6/29/12, Chapter 14
Concerns the escheat of stored value cards and gift certificates.

New York
A.B. 1057
Provides that gift certificates and store credits shall not contain expiration dates, except in limited circumstances where they are issued for promotional purposes without value being given by the consumer; makes certificates or credit with an expiration date redeemable in cash or replaceable by a certificate or credit without an expiration date.

A.B. 1604
Requires that gift certificates, gift cards, or store credits have no expiration or diminution in value over time.

A.B. 3525
Requires retailers issuing gift certificates to hold the amount equal to the issued gift certificate in escrow to be paid out upon closing of such retailer.

A.B. 4062
Relates to the sale and use of gift certificates; requires that gift certificates last for at least seven years; requires that the date of issuance and the date of expiration of a gift certificate be either printed on the gift certificate, printed on a customer's receipt, or available through an Internet and toll-free telephone service.

A.B. 5615
Prohibits the sale of gift certificates and gift cards that diminish in value due to dormancy; and prohibits surcharges and fees on gift certificates and gift cards.

A.B. 7576
S.B. 5161
Passed Senate 2/29/12
Directs the commissioner of environmental conservation to create gift cards for hunting and fishing licenses.

A.B. 9035
Imposes sales tax at the time of the sale of a gift certificate and exempts purchases made with a gift certificate.

A.B. 9263
Prohibits the sale of gift certificates and gift cards that diminish in value due to dormancy; and prohibits surcharges and fees on gift certificates and gift cards.

Pennsylvania
H.B. 643
Changes from five to four years before a gift certificate or gift card is presumed abandoned and unclaimed.

Puerto Rico
H.B. 982
Amends the law on sales terms and finance companies for purposes of defining what constitutes a gift card or gift certificate and its validity.

S.B. 1960
Passed both houses 6/30/12
Adopts a new statute governing the sale and use of gift cards in Puerto Rico, to be known as the Law for Gift Cards.

Rhode Island
H.B. 7523
Signed by governor 6/19/12, Chapter 281
This act permits a one year expiration date on gift certificates cards which are donated.

S.B. 2071
This act requires that gift certificates remain redeemable at their full value for three years, after which the value of the gift certificate may be decreased by no more than 10 percent per year.

S.B. 2433
Signed by governor 6/19/12, Chapter 270
This act permits a one year expiration date on gift certificates cards which are donated.

Utah
H.B. 217
This bill: modifies a provision which makes it a deceptive act or practice for a supplier, knowingly or intentionally, to issue a certain gift certificate, instrument, or other record without providing information about an expiration date and fee charged against the balance; and modifies that provision into a provision making it a deceptive act or practice for a supplier, knowingly or intentionally, to issue a gift certificate, instrument, or other record that is scheduled to expire or if a fee is to be charged against the balance.

Vermont
H.B. 730
Signed by governor 5/14/12, Act 136
Regulations loyalty, award, or promotional gift certificates.

2011 Legislation

Alaska
H.B. 75
Relates to gift certificates, store gift cards, and general use prepaid cards, and to unclaimed property; and makes a violation of certain prohibitions on gift certificates, store gift cards, and general use cards an unlawful trade practice.

Connecticut
H.B. 6351
Signed by governor 7/13/11, Public Act 11- 201
This bill makes changes in several programs and laws related to foreclosure as well as other banking- and housing-related issues. The bill prohibits a general-use prepaid card from including an expiration date for the underlying funds redeemable through its use, but it allows an expiration date for the card itself if certain requirements are met. It also explicitly excludes general-use prepaid cards from the definition of “gift certificate,” but it applies to them the same prohibition on inactivity charges, fees, or penalties and exemption from state escheat provisions as apply to gift certificates.

S.B. 1078
Passed Senate 5/12/11
This bill prohibits a “general-use prepaid card” from including an expiration date for the underlying funds redeemable through its use, but allows an expiration date for the general-use prepaid card if certain requirements are met. A “general-use prepaid card” is a card, code, or other device issued to a consumer in exchange for payment, on a prepaid basis and in a specific amount, primarily for personal, family, or household purposes. It is redeemable when presented at multiple, unaffiliated merchants for goods or services, or usable at automated teller machines. The bill also excludes general-use prepaid cards from the definition of “gift certificate.”

Illinois
H.B. 252
Amends the Consumer Fraud and Deceptive Business Practices Act. Provides that the holder of a gift certificate issued on or after January 1, 2012 that has a balance of less than $10 must be given the option of receiving that balance in cash.

Louisiana
H.B. 128
Prohibits a retail business from requesting or requiring a consumer's personal information when completing a consumer transaction using cash, credit card, debit card, or gift card as the form of payment.

Maine
L.D. 247
Signed by governor 7/6/11, Chapter 433
Provides that gift obligation and stored value cards sold on or after December 31, 2011 are only presumed abandoned if the issuer sells at least $250,000 in face value of gift obligations and stored value cards during the previous calendar year.

Massachusetts
H.B. 128
Amends the definition of a gift certificate to be a writing identified as a gift certificate or a credit backed or bank issued gift card, purchased by a buyer for use by a person other than the buyer not redeemable in cash and usable in its face amount in lieu of cash in exchange for goods or services supplied by the seller.

Mississippi
H.B. 495
Died in committee 2/1/11
Enacts the Mississippi Uniform Unclaimed Property Act; provides that gift certificates are presumed unclaimed after three years after December 31 of the year in which the certificate was sold, but if redeemable in merchandise only, the amount abandoned is deemed to be 60 percent of the certificate's face value.

New Jersey
A.B. 2085
S.B. 2670
This bill would make it an unlawful practice under the Consumer Fraud Act to sell certain products via an Internet auction. The bill targets those products typically stolen from retailers by shoplifting gangs and resold over the Internet. The bill similarly makes it an unlawful practice for a person to sell a value loaded card via Internet auction unless the seller provides to the auctioneer, as well as the company’s general counsel, a written or electronic record of the purchase or acquisition of the value loaded card, including the serial number and amount of the value loaded card; the date of purchase of the value loaded card; and the name, address and phone number of the person from whom that value loaded card was purchased or acquired. If a person sells an aggregate of five or more value loaded cards in contemporaneous Internet auctions conducted by an Internet auctioneer, the Internet auctioneer has 24 hours to notify the retailer of the sale in writing or electronically. The auctioneer must give the retailer relevant information about the seller, including the sales history and all aliases and accounts used by the person.

A.B. 3250
S.B. 2681
This bill reverses certain changes to the laws governing the state’s treatment of unclaimed property. The state’s unclaimed property laws provide for a system whereby certain types of property which have gone unused for prescribed periods of time accrue to the state and are treated as state revenue, though remain subject to the rightful claim by the true owners. This bill reverses the 2010 changes to the state’s unclaimed property statutes. The bill removes all references and the operative section for the state’s claim on certain unused stored value cards. The bill reenacts the 15 year abandonment period for travelers checks and the seven year abandonment period for money orders, both of which were recently changed to three years. The bill restores the previous statutory standard of unconscionability for limiting service charges on travelers checks. The bill also restores the statutory standard of unconscionability for limiting fees associated with a failure to redeem a credit balance, customer overpayment, security deposit, refund, credit memorandum, unused ticket, and similar instruments. Additionally, the bill reenacts certain money order specific consumer protections which had been otherwise configured in statute by recent changes. Lastly, the bill grants the state treasurer emergency regulatory authority to implement this act and to reimburse issuers that reported unclaimed property under the recent 2010 changes, which would not have been due reportable otherwise.

New York
A.B. 1057
Provides that gift certificates and store credits shall not contain expiration dates, except in limited circumstances where they are issued for promotional purposes without value being given by the consumer; makes certificates or credit with an expiration date redeemable in cash or replaceable by a certificate or credit without an expiration date.

A.B. 1604
Requires that gift certificates, gift cards, or store credits have no expiration or diminution in value over time.

A.B. 3525
Requires retailers issuing gift certificates to hold the amount equal to the issued gift certificate in escrow to be paid out upon closing of such retailer.

A.B. 4062
Relates to the sale and use of gift certificates; requires that gift certificates last for at least seven years; requires that the date of issuance and the date of expiration of a gift certificate be either printed on the gift certificate, printed on a customer's receipt, or available through an Internet and toll-free telephone service.

A.B. 5615
Prohibits the sale of gift certificates and gift cards that diminish in value due to dormancy; and prohibits surcharges and fees on gift certificates and gift cards.

A.B. 7576
S.B. 5161
Passed Senate 6/15/11
Directs the commissioner of environmental conservation to create gift cards for hunting and fishing licenses.

Oregon
S.B. 756
Signed by governor 6/14/11, Chapter 336
Prohibits sale of gift card that cannot be redeemed for cash when face value declines to amount less than $5 and card has been used for at least one purchase. Creates exemptions.

S.B. 804
Defines a gift card to include a card usable with more than one seller of goods or services.

Pennsylvania
H.B. 643
Changes from five to four years before a gift certificate or gift card is presumed abandoned and unclaimed.

Puerto Rico
S.B. 1960
Passed Senate 8/18/11
Adopts a new statute governing the sale and use of gift cards in Puerto Rico, to be known as the Law for Gift Cards.

Rhode Island
S.B. 90
This act requires that gift certificates remain redeemable at their full value for three years, after which the value of the gift certificate may be decreased by no more than 10 percent per year.

South Dakota
S.B. 76
Signed by governor 3/15/11, Chapter 198
Exempts certain gift certificates and closed-loop prepaid cards from the unclaimed property provisions.

Tennessee
H.B. 116
S.B. 94
Requires any gift card or prepaid card issued as payment of a rebate to contain an expiration date conspicuously printed on the card.

H.B. 370
S.B. 275
Requires gift certificates with a monetary value of less than $10 to be redeemable in cash for cash value.

Texas
S.B. 362
Relates to the presumed abandonment date for stored value cards.

Virginia
H.B. 1614
Requires issuers of general-use prepaid cards to disclose information regarding all fees associated with the cards. The disclosures are required to be presented in the form of a table that is consistent with the tabular format required for credit card disclosures under §122(c) of the federal Truth in Lending Act and Regulation Z.

2010 Legislation

California

A.B. 2185
This bill prohibits a retailer from advertising as a gift certificate or gift card any promotional item, award, or loyalty that does not comply with the laws pertaining to gift certificates. The bill requires any of those items resembling a gift certificate or gift card to include on the front of the item the terms and conditions of use as well as a notice in 10-point boldface type that the item is not a gift certificate or gift card. The bill also prohibits the sale of a gift card usable with multiple sellers of goods or services that requires a service fee, including, but not limited to, a service fee for activation, application, installation, or dormancy.

S.B. 885
Vetoed by governor 9/23/10
Existing law provides that a gift certificate sold after January 1, 1997, is redeemable in cash or subject to replacement with a new gift certificate. Existing law also provides that a gift certificate with a cash value of less than $10 may be redeemed in cash, as defined, for its cash value. Existing law prohibits the sale of a gift certificate that contains a dormancy fee, subject to specified exceptions. This bill deletes those exceptions and expressly prohibits the sale of a gift certificate that contains a dormancy fee.

Colorado
S.B. 155
Signed by governor 4/29/10, Chapter 180
The bill requires an issuer of a gift card to redeem the gift card for cash if the amount remaining is less than $5 on request of the holder. The bill prohibits an issuer of a gift card from charging any fees in connection with the issuance of the card. The bill also makes violation of the limitations regarding gift cards a deceptive trade practice.

Connecticut
S.J.R. 4
Failed in committee 4/28/10
Calls upon the Congress of the United States to pass appropriate legislation to specifically authorize states to prohibit gift card expiration dates, inactivity fees or any other deductions from the value of a gift card.

Florida
S.B. 2164
Died in committee 4/30/10
Provides that a violation of provisions relating to the expiration date of a gift certificate or credit memo is a deceptive and unfair trade practice that violates the Florida Deceptive and Unfair Trade Practices Act and subjects the violator to the penalties and remedies of that act.

Georgia
H.B. 1383
Relates to disposition of unclaimed property, so as to provide for disposition of a gift card when the owner dies intestate or is missing; provides for amount presumed abandoned if gift card is redeemable for merchandise only.

Hawaii
H.B. 2289
Became law without governor’s signature 7/7/10, Act 195
Extends the minimum expiration period for gift certificates from two to five years except for paper gift certificates. Allows limited issuance or activation fees to be imposed; Amends the definition of "gift certificate;" Defines "service fee" to exclude activation or issuance fees.

S.B. 2376
Extends the minimum expiration period for gift certificates from two to five years and requires issuers to honor gift certificates during this period. Defines "service fee."

Illinois
H.B. 4702
Amends the Consumer Fraud and Deceptive Business Practices Act. Provides that the holder of a gift certificate issued on or after January 1, 2011 that has a balance of less than $10 must be given the option of receiving that balance in cash.

Indiana
H.B. 1083
Signed by governor 3/17/10, Public Law 64
Reduces from five years to three years the period after which the following property is considered abandoned for purposes of the state's unclaimed property act: (1) A demand, savings, or matured time deposit. (2) Property payable as a result of a demutualization, rehabilitation, or related reorganization of a mutual insurance company. (3) All other property not otherwise specified under the act. Makes a technical amendment to one provision of the unclaimed property act to reflect another provision of the unclaimed property act that specifies that the act does not apply to: (1) a business to business credit memorandum; or (2) gift certificates.

S.B. 303
Reduces from five years to three years the period after which the following property is considered abandoned for purposes of the state's unclaimed property act: (1) A demand, savings, or matured time deposit. (2) Property payable as a result of a demutualization, rehabilitation, or related reorganization of a mutual insurance company. (3) All other property not otherwise specified under the unclaimed property act. Makes a technical amendment to one provision of the unclaimed property act to reflect another provision of the unclaimed property act that specifies that the act does not apply to: (1) a business to business credit memorandum; or (2) gift certificates.

Kentucky
S.B. 83
Signed by governor 4/1/10, Chapter 54
Amends KRS 367.890 to delete gift cards distributed by an issuer as an award, loyalty, or promotional program from the minimum one year expiration requirement.

Louisiana
S.B. 342
Signed by governor 6/9/10, Act 174
Requires the gift certificate or gift card issuer to redeem the remaining value of the gift certificate for cash if the remaining value is $5 or less, upon request of the holder. Repeals the provisions that the relevant laws relating to gift certificates shall not apply to those gift certificates that are usable with multiple sellers of goods or services.

Massachusetts
H.B. 239
Amends the definitions of gift card and gift certificate. Provides that a person may not sell a gift card: (1) that has an expiration date; (2) that has a face value that declines as a result of the passage of time or the lack of use of the card; or (3) that has a fee. A gift card with a remaining value of $10 or less may be redeemed in cash for its cash value. The value paid by a purchaser of a gift card to the issuer of the gift card is trust property held by the issuer, or its successors in interest, as trustee for the benefit of the holder of the gift card.

H.B. 314
Amends the definition of a gift certificate to include a writing identified as a gift certificate or a credit backed or bank issued gift card, purchased by a buyer for use by a person other than the buyer not redeemable in cash and usable in its face amount in lieu of cash in exchange for goods or services supplied by the seller.

H.B. 3865
Provides that whoever sells gift certificates shall maintain a bank escrow account segregated from its other assets sufficient to reimburse holders of such certificates.

H.B. 3870
Provides that the commission shall assess a fee to be determined by him on all sellers of gift certificates in the commonwealth. Said fees shall be deposited in a bank escrow fund separate from all others assets of the seller. Said funds shall be used to reimburse holders of such certificates if the issue of the certificate goes out of business.

S.B. 126
Provides that all gift certificates and gift cards will retain the original value except for deduction occurring due to purchases using the card or certificate by the holder of the card.

Mississippi
H.B. 73
Died in committee 2/2/10
Enacts the Mississippi Uniform Unclaimed Property Act; provides for abandoned gift certificates.

H.B. 415
Died in committee 2/2/10
Enacts the Mississippi Uniform Unclaimed Property Act; provides for abandoned gift certificates.

S.B. 2167
Died in committee 2/2/10
Enacts the Mississippi Uniform Unclaimed Property Act; provides for abandoned gift certificates.

Missouri
H.B. 1522
This bill prohibits any person or business entity from selling gift certificates that have an expiration date or any kind of service fee. Abandoned or unused gift certificates will not be subject to state unclaimed property provisions or become property of the state treasurer. Anyone violating the provisions of the bill will be guilty of unfair merchandising practices and subject to penalties under §407.020, RSMo.

S.B. 872
This act prohibits the use of expiration dates or service fees on gift certificates. Abandoned or unused gift certificates shall not be subject to state unclaimed property provisions and shall not become the property of the state treasurer. Violations of the act shall be considered unfair marketing practices subject to certain unlawful merchandising practice penalties.

Nebraska
L.B. 720
Relates to customer loyalty or incentive programs; provides that if a retail business establishes a customer loyalty, bonus, or incentive program which provides a general-use prepaid card, the business shall also offer the incentive in the form of cash or a negotiable check; provides that the check or general-use prepaid card shall not expire for a specified time and the value of the check or general-use prepaid card shall not be decreased for administrative, shipping, or handling fees.

New Jersey
A.B. 638
This bill makes it an unlawful practice to sell gift cards unless they are packaged or displayed in a manner that prevents a person from viewing the gift card account number prior to purchasing the gift card. The bill allows the display of a gift card account number, provided a unique personal identification number, code, or password is required to use the gift card to make a remote purchase and that number, code, or password is hidden from view until after purchase; and there is a notice alerting the consumer of the number, code, or password, and that the gift card should be packaged or displayed in a manner that prevents people from viewing that number, code, or password prior to purchase. The bill defines “remote purchase” as a purchase made with a gift card for which the gift card does not need to be physically presented to a cashier or other representative of the seller or merchant. A popular scam for criminals is to record gift card account numbers while in a store, and use the customer service telephone number to verify if the card has been activated. Once it is, they quickly make Internet purchases using the gift card account number. This legislation is designed to protect consumers by guaranteeing that their gift card account numbers remain private prior to purchase. An unlawful practice under the Consumer Fraud Act is punishable by a monetary penalty of not more than $10,000 for a first offense and not more than $20,000 for any subsequent offense. In addition, a violation can result in cease and desist orders issued by the attorney general, the assessment of punitive damages and the awarding of treble damages and costs to the injured party.

A.B. 1635
Withdrawn from further consideration 10/14/10
This bill clarifies that, for the purpose of the statute which regulates expiration dates and dormancy fees for gift cards and gift certificates, prepaid bank cards which disclose their expiration dates and dormancy fees are not included in the definition of “gift card” or “gift certificate.” In order to be excluded: (i) the card’s expiration date and a notice that dormancy or other fees may apply, along with a toll-free customer service telephone number, consumers may use to access all fee information related to the card are printed on the card or a decal or sticker affixed to the card; and (ii) all terms, conditions, and limitations are printed on the prepaid bank card, its packaging, or a decal or sticker affixed to the card, including but not limited to a description of all fees which are associated with the prepaid bank card. By excluding prepaid bank cards which make these disclosures from the existing gift card and gift certificate statutory requirements, these cards are not: (i) prohibited from expiring within 24 months immediately following the date of sale; (ii) prohibited from charging a dormancy fee within 24 months immediately following the date of sale, or within 24 months immediately following the most recent activity or transaction in which the card is used; (iii) limited to charging no more than $2 per month for the dormancy fee; or (iv) required to make certain disclosures. The bill also specifies that payroll wage cards and debit cards linked to deposit or loan accounts are not included in the definition of a “prepaid bank card.” In addition, the bill requires merchants to exchange the unused value of a gift card for cash when it is used for a purchase and $5 or less remains on the card.

A.B. 1836
This bill provides that a gift certificate or gift card sold after the effective date of the bill will retain full unused value until presented in exchange for merchandise. Thus, this bill creates a gift certificate or gift card that never expires nor has a dormancy fee charged against it. Under existing law, a gift card or gift certificate may contain certain conditions and limitations, which are disclosed to the purchaser at the time of purchase. Those conditions and limitations are as follows: (i) In no case shall a gift certificate or gift card expire within the 24 months immediately following the date of sale. (ii) No dormancy fee shall be charged against a gift certificate or a gift card within the 24 months immediately following the date of sale, nor shall one be charged within the 24 months immediately following the most recent activity or transaction in which the certificate or card was used. (iii) A dormancy fee charged against a gift certificate or gift card shall not exceed $2 per month.

A.B. 2085
This bill would make it an unlawful practice under the Consumer Fraud Act to sell certain products via an Internet auction. The bill targets those products typically stolen from retailers by shoplifting gangs and resold over the Internet. The bill similarly makes it an unlawful practice for a person to sell a value loaded card via Internet auction unless the seller provides to the auctioneer, as well as the company’s general counsel, a written or electronic record of the purchase or acquisition of the value loaded card, including the serial number and amount of the value loaded card; the date of purchase of the value loaded card; and the name, address and phone number of the person from whom that value loaded card was purchased or acquired. If a person sells an aggregate of five or more value loaded cards in contemporaneous Internet auctions conducted by an Internet auctioneer, the Internet auctioneer has 24 hours to notify the retailer of the sale in writing or electronically. The auctioneer must give the retailer relevant information about the seller, including the sales history and all aliases and accounts used by the person.

A.B. 3002
Signed by governor 6/29/10, Chapter 25
S.B. 2112
Substituted 6/28/10
This bill modifies the state’s unclaimed property laws to adjust the time periods for presumptions of abandonment, limit issuer imposed dormancy fees, and provide for related administration of certain unclaimed property.The bill provides the following presumptions of abandonment: (i) Adjusts the period of time which triggers abandonment for travelers checks from 15 to three years; (ii) Adjusts the period of time which triggers abandonment for money orders from seven to three years; and (iii) Creates a two year trigger for abandonment of stored value cards. The bill’s definition of stored value cards, includes, but is not limited to, paper gift certificates, gift cards and rebate cards. The bill also limits the imposition of dormancy fees as follows: Precludes the imposition of dormancy fees on travelers checks or money orders in the first 12 months after issuance and limits permissible dormancy fees to $2 per month; and precludes the imposition of dormancy fees on stored value cards, credit balances, overpayments, security deposits, unused tickets, refunds, credit memoranda and similar instruments. The bill also includes stored value cards into an existing reimbursement process for escheated properties so that if an escheated stored value card is subsequently claimed by an owner and honored by the issuer, the state can reimburse the issuer. Additionally, the bill requires stored value card issuers to obtain the name and address of purchasers and to maintain, at a minimum, a record of the zip code of the purchaser. In instances where an issuer does not have the name and address of a purchaser, the address of the purchaser shall assume the address of the place where the stored value card is purchased, if that place is located in New Jersey. These provisions are designed to modernize the state’s unclaimed property processes relative to other states and enhance New Jersey’s capacity to protect its residents’ stored value cards from being subject to the escheatment processes of other states. Stored value cards issued under a promotional program, customer loyalty program, charitable program or by a business selling $250,000 or less of stored value cards in the prior year are exempted from the stored value card provisions of the bill. The bill also authorizes the state treasurer to grant an exemption from such provisions concerning stored value cards, on such terms and conditions as the state treasurer may require, for a business or class of businesses that demonstrate good cause. In determining whether to exercise the discretion to grant an exemption, the state treasurer may consider relevant factors including, but not limited to, the amount of stored value card transactions processed, the technology in place, whether or not stored value cards issued contain a microprocessor chip, magnetic strip, or other means designed to trace and capture information about place and date of purchase, and such other factors as the state treasurer shall deem relevant. The bill specifies that only stored value cards exempted from the unclaimed property provisions of the bill shall be deemed gift cards or gift certificates subject to the consumer protections provided under P.L.2002, c.14 (C.56:8-110 et seq.). The bill takes effect July 1, 2010 and applies to stored value cards, travelers checks, money orders and certain similar instruments outstanding on and after July 1, 2010, including, but not limited to, those issued before July 1, 2010.

A.B. 3067
This bill modifies the state’s unclaimed property laws to adjust the time periods for presumptions of abandonment, limit issuer imposed dormancy fees, and provide for related administration of certain unclaimed property. The bill provides the following presumptions of abandonment: (i) Adjusts the period of time which triggers abandonment for travelers checks from 15 to three years; (ii) Adjusts the period of time which triggers abandonment for money orders from seven to three years; and (iii) Creates a one year trigger for abandonment of stored value cards. The bill’s definition of stored value cards, includes, but is not limited to, paper gift certificates, gift cards and rebate cards. Stored value cards do not include similar cards issued under a promotional or charitable program. The bill also limits the imposition of dormancy fees as follows: Precludes the imposition of dormancy fees on travelers checks or money orders in the first 12 months after issuance and limits permissible dormancy fees to $2 per month; and precludes the imposition of dormancy fees on stored value cards, credit balances, overpayments, security deposits, unused tickets, refunds, credit memoranda and similar instruments. The bill also includes stored value cards into an existing reimbursement process for escheated properties so that if an escheated stored value card is subsequently claimed by an owner and honored by the issuer, the State can reimburse the issuer. Additionally, the bill requires stored value card issuers to obtain the name and address of purchasers and to maintain, at a minimum, a record of the zip code of the purchaser. In instances where an issuer does not have the name and address of a purchaser, the address of the purchaser shall assume the address of the place where the stored value card is purchased, if that place is located in New Jersey. These provisions are designed to modernize the state’s unclaimed property processes relative to other states and enhance New Jersey’s capacity to protect its residents’ stored value cards from being subject to other state’s escheatment processes. The bill also authorizes the state treasurer to grant an exemption from such provisions concerning stored value cards, on such terms and conditions as the state treasurer may require, for a business or class of businesses that demonstrate good cause. In determining whether to exercise the discretion to grant an exemption, the state treasurer may consider relevant factors including, but not limited to, the amount of stored value card transactions processed, the technology in place, whether or not stored value cards issued contain a microprocessor chip, magnetic strip, or other means designed to trace and capture information about place and date of purchase, and such other factors as the state treasurer shall deem relevant. The bill takes effect July 1, 2010 and applies to stored value cards, travelers checks, money orders and certain similar instruments outstanding on and after July 1, 2010, including, but not limited to, those issued before July 1, 2010.

A.B. 3091
This bill adjusts the period triggering abandonment for stored value cards from two to five years and exempts stored value cards useable solely for telephone services from the state’s escheatment processes. The purposes of this measure are to alleviate the potential burdens that may be imposed upon consumers and issuers by subjecting stored value cards to a two year abandonment trigger and prepaid phone cards to the state’s escheatment processes. Senate Bill No. 2112 of 2010 and Assembly Bill No. 3002 of 2010 propose to bring stored value cards into the grasp of the state’s escheatment processes, which allows the state to confiscate and hold the value of those cards upon the triggering of a presumption of abandonment. Though the value of the card remains subject to the claim of the card owner, the processes involved in escheatment may cause a significant disruption in the use and reliance upon stored value cards, particularly in the case of prepaid phone cards. To remedy these potential hazards, this bill makes two modifications to the processes for escheatment of stored value cards. The bill adjusts the abandonment period that triggers the escheatment of stored value cards from two to five years. The bill also provides an exemption to the state’s escheatment process for stored value cards which are useable solely for telephone services. Stored value cards usable solely for telephone services include, but are not limited to, stored value cards redeemable for long-distance telephone service, prepaid cards for wireless telephone service and prepaid cards for other services that function similar to telephone services. The bill is to take effect immediately, but to remain inoperative until the date of enactment of Senate Bill No. 2112 or Assembly Bill No. 3002.

A.B. 3250
This bill reverses certain changes to the laws governing the state’s treatment of unclaimed property. The state’s unclaimed property laws provide for a system whereby certain types of property which have gone unused for prescribed periods of time accrue to the state and are treated as state revenue, though remain subject to the rightful claim by the true owners. This bill reverses the 2010 changes to the state’s unclaimed property statutes. The bill removes all references and the operative section for the state’s claim on certain unused stored value cards. The bill reenacts the 15 year abandonment period for travelers checks and the seven year abandonment period for money orders, both of which were recently changed to three years. The bill restores the previous statutory standard of unconscionability for limiting service charges on travelers checks. The bill also restores the statutory standard of unconscionability for limiting fees associated with a failure to redeem a credit balance, customer overpayment, security deposit, refund, credit memorandum, unused ticket, and similar instruments. Additionally, the bill reenacts certain money order specific consumer protections which had been otherwise configured in statute by recent changes. Lastly, the bill grants the state treasurer emergency regulatory authority to implement this act and to reimburse issuers that reported unclaimed property under the recent 2010 changes, which would not have been due reportable otherwise.

A.B. 3315
This bill makes it an unlawful practice for a retail mercantile establishment to advertise merchandise for sale indicating the availability of a rebate that is to be redeemable as a gift card, gift certificate, prepaid bank card, or store gift card without disclosing that the rebate is available only as a gift card, gift certificate, prepaid bank card, or store gift card. These disclosures must be made by retail mercantile establishments in advertisements of the rebate and at the time of sale. An unlawful practice under the consumer fraud act is punishable by a monetary penalty of not more than $10,000 for a first offense and not more than $20,000 for any subsequent offense. In addition, violations can result in cease and desist orders issued by the attorney general, the assessment of punitive damages and the awarding of treble damages and costs to the injured party.

A.B. 3330
This bill provides that gift cards and gift certificates be redeemable at full face value in perpetuity. The bill also creates a separate category of “store gift card” which is a gift card that is redeemable at a single retail mercantile establishment or an affiliated group of retail mercantile establishments that share the same name, mark or logo. As to store gift cards, the bill requires a retail mercantile establishment, at which a store gift card is redeemable, to: (1) upon request, disclose to the consumer the remaining value of the store gift card; and (2) permit a transaction in an amount that is less than the remaining value of the store gift card.

S.B. 800
This bill incorporates prepaid bank cards, defined in the bill as a form of gift card, into the existing statutory provisions which regulate the expiration dates and dormancy fees for gift cards and gift certificates generally. These prepaid bank cards include mall gift cards issued by third party banks or other financial institutions which are usable at multiple, unaffiliated merchants within a particular shopping mall. By incorporating prepaid bank cards into the existing gift card and gift certificate statutory requirements, the bill: 1) prohibits the expiration of prepaid bank cards within 24 months immediately following the date of sale by the original purchaser of the card; 2) prohibits the charging of a dormancy fee against a prepaid bank card within 24 months immediately following the date of sale, and within 24 months immediately following the most recent activity or transaction in which the card is used; 3) limits the dormancy fee, when applicable, charged against a prepaid bank card to no more than $2 per month; and 4) requires appropriate disclosure of the above card expiration and dormancy fee provisions to prepaid bank card consumers.

S.B. 1292
This bill provides that a gift certificate, prepaid bank card or gift card sold after the effective date of the bill will retain full unused value until presented in exchange for merchandise. Thus, this bill creates a gift certificate, prepaid bank card or gift card that never expires nor has a dormancy fee charged against it. Existing statutory provisions regulate the expiration dates and dormancy fees for gift cards and gift certificates generally. As currently provided by law, a gift card or gift certificate may contain certain conditions and limitations, which are disclosed to the purchaser at the time of purchase. Those conditions and limitations are as follows: In no case shall a gift certificate or gift card expire within the 24 months immediately following the date of sale. No dormancy fee shall be charged against a gift certificate or a gift card within the 24 months immediately following the date of sale, nor shall one be charged within the 24 months immediately following the most recent activity or transaction in which the certificate or card was used. A dormancy fee charged against a gift certificate or gift card shall not exceed $2 per month.

New York
A.B. 10438
S.B. 7184
Provides that a gift certificate issued by a single merchant or an affiliated group of merchants that share the same name, mark or logo may be used by the holder thereof to pay down any debt owed to or any credit card issued by such merchant or affiliated group of merchants.

Pennsylvania
S.B. 1209
Amends the Unfair Trade Practices and Consumer Protection Act. Defines unfair methods of competition and unfair or deceptive acts or practices to include selling gift certificates with expiration dates or imposing fees.

Rhode Island
S.B. 2108
Provides that no service or maintenance fees may be charged on gift cards and certificates less than two years old, and eliminates certain exceptions in the existing statute.

South Dakota
S.B. 81
Signed by governor 3/24/10
Exempts open-loop prepaid cards from unclaimed property provisions.

Virginia
H.B. 181
Tabled 2/4/10
Prohibits the issuance of a gift card that automatically, as a result of the passage of a period of time following its purchase or activation (i) expires, (ii) diminishes in value by the assessment of a maintenance fee or inactivity fee, or (iii) otherwise becomes unredeemable.

2009 Legislation

Alaska
H.B. 64
Relates to gift certificates and gift cards and to unclaimed property; and makes a violation of certain gift card prohibitions an unlawful trade practice.

Arizona
H.B. 2304
Stipulates that any dollar amount on a retail gift card that is not used is presumed abandoned on the expiration date. Mandates that any property from an expired gift card that is presumed abandoned shall be distributed as follows three years after its expiration date: The first $25 to the issuer if the issuer has employees, an office or a retail place of business located in Arizona. The remaining monies to the General Fund.

California
A.B. 77, Third Special Session
Includes gift certificates within the unclaimed property law and requires the full value of a gift certificate issued commencing July 1, 2006, or portion thereof that has not been redeemed within three years after issuance of the gift certificate to escheat to the state and be forwarded to the controller. The bill provides that it does not alter the rights and responsibilities of the seller and buyer under the terms of the gift certificate and authorizes a seller to claim the value of a subsequently redeemed gift certificate as a credit against the seller's next payment to the controller. Establishes the Escheated Gift Certificate/Poison Control Center Funding Account within the State Treasury and requires deposit of the funds collected pursuant to this bill into the account for the purposes of funding poison control centers, upon appropriation by the Legislature, and requires the transfer of excess funds to the General Fund.

Connecticut
S.B. 874
Failed Joint Favorable deadline 3/12/09
Exempts any electronic card usable with multiple unaffiliated sellers of goods or services from escheat provisions in the general statutes.

S.B. 892
Failed Joint Favorable deadline 3/10/09
Prohibits selling gift certificates with a dormancy charge or fee, escheat charge or fee, inactivity charge or fee or any similar charge, fee or penalty for inactivity. Requires any person selling or issuing a gift certificate to maintain a secured line of credit or hold in trust in a separate escrow account in an amount equal to the unredeemed value of all outstanding gift certificates issued or sold by such person.

S.B. 925
Establishes the Connecticut Retail Gift Card and Certificate Guaranty Fund, imposes an annual $25 fee to pay for the fund, and (3) authorizes the Department of Consumer Protection (DCP) to administer the fund and applications to it. Amends the definition of gift certificates to include a record evidencing a promise donated to a charitable organization; prohibits the sale of gift cards or certificates with dormancy, escheat, or inactivity charges, fees, or penalties; and requiress gift certificates not subject to state law to contain clear and conspicuous descriptions of any expirations, charges, fees, or penalties.

S.J.R. 14
Link not available
Calls upon the Congress of the United States to adopt legislation to prohibit any person or entity from charging consumers a fee for or related to a gift card, other than payment in an amount equal to the actual face value of such card.

S.J.R. 62
Link not available
Memorializes Congress to ban gift card fees.

District of Columbia
B18-323
Prohibits gift certificates and gift cards from expiring or being subject to fees or charges for a period of four years; makes violations of this Act an unlawful trade practice; and amends the Uniform Disposition of Unclaimed Property Act of 1980 to include gift cards.

Illinois
H.B. 339

Amends the Consumer Fraud and Deceptive Business Practices Act. Provides that the holder of a gift certificate issued on or after January 1, 2010 that has a balance of less than $10 must be given the option of receiving that balance in cash.

H.B. 3703

Amends the Consumer Fraud and Deceptive Business Practices Act. Provides that any value remaining after the expiration date on a gift certificate issued by a nonprofit organization shall revert back to the nonprofit organization.

Indiana
H.B. 1122
Provides that a person may not issue a gift card that is subject to an expiration date or a fee.

H.B. 1529
Passed House 2/16/09
Provides that a person may not issue a gift card that is subject to an expiration date or a fee.

Kentucky
S.B. 85
Passed Senate 3/2/09
Amends KRS 367.890 relating to gift cards to remove the requirement that the gift card be issued by a merchant and to provide that gift cards issued with expiration dates are not subject to escheat.

Maryland
H.B. 126
Withdrawn 2/17/09
S.B. 418
Withdrawn 2/23/09
Provides that on a specified date the balance remaining on a gift certificate sold in the state shall be presumed to be abandoned; requires each issuer of gift certificates sold in the state to report to the comptroller specified information regarding gift certificate transactions in the state and to remit to the comptroller 70 percent of the remaining balances on specified gift certificates on or before March 1 of each year.

H.B. 3865
Provides that whoever sells gift certificates shall maintain a bank escrow account segregated from its other assets sufficient to reimburse holders of such certificates.

S.B. 126
Provides that all gift certificates and gift cards will retain the original value except for deduction occurring due to purchases using the card or certificate by the holder of the card.

Michigan
H.B. 4925
Revises the definition of gift certificate in the consumer protection act.

Minnesota
H.F. 2123
Signed by governor with line item veto 5/7/09, Chapter 37
Authorizes the Department of Natural Resources to sell department gift cards and certificates.

H.F. 2295
S.F. 1353
Authorizes the Department of Natural Resources to sell department gift cards and certificates.

Mississippi
H.B. 420
Died in committee 2/3/09
Enacts the Mississippi Uniform Unclaimed Property Act; provides that gift certificates will be presumed abandoned three years after December 31^st of the year in which the certificate was sold, but if redeemable in merchandise only, the amount abandoned is deemed to be 60 percent of the certificate's face value.

S.B. 2363
Died in committee 2/3/09
Enacts the Mississippi Uniform Unclaimed Property Act; provides that gift certificates will be presumed abandoned three years after December 31^st of the year in which the certificate was sold, but if redeemable in merchandise only, the amount abandoned is deemed to be 60 percent of the certificate's face value.

Missouri
H.B. 198
Prohibits the use of expiration dates earlier than five years after the date of issuance or post-purchase fees on gift certificates sold in Missouri. Any gift certificate issued on or after August 28, 2009, will not reduce in value and the holder cannot be penalized in any way for non-use or untimely redemption. Violations of the provisions of the bill will be considered unfair merchandising practices and subject to penalties.

S.B. 371
Prohibits the use of expiration dates or service fees on gift certificates. Abandoned or unused gift certificates shall not be subject to state unclaimed property provisions and shall not become the property of the State Treasurer. Violations of the act shall be considered unfair marketing practices subject to certain unlawful merchandising practice penalties.

Nevada
S.B. 82
Signed by governor 6/1/09, Chapter 404
Establishes procedures to allow law enforcement to identify funds associated with prepaid or stored value cards. This bill allows a peace officer to determine the name, personal information and amount of funds associated with a prepaid or stored value card in certain circumstances where there is probable cause to believe that the prepaid or stored value card is an instrumentality of a crime. Finally, this bill allows the attorney general or a state or local law enforcement agency to enter into a contract to carry out the provisions of this bill concerning the identification of funds.

New Jersey
A.B 2449
S.B. 612
Incorporates prepaid bank cards, defined in the bill as a form of gift card, into the existing statutory provisions which regulate the expiration dates and dormancy fees for gift cards and gift certificates generally. These prepaid bank cards include mall gift cards issued by third party banks or other financial institutions which are usable at multiple, unaffiliated merchants within a particular shopping mall. By incorporating prepaid bank cards into the existing gift card and gift certificate statutory requirements, the bill: 1) prohibits the expiration of prepaid bank cards within 24 months immediately following the date of sale by the original purchaser of the card; 2) prohibits the charging of a dormancy fee against a prepaid bank card within 24 months immediately following the date of sale, and within 24 months immediately following the most recent activity or transaction in which the card is used; 3) limits the dormancy fee, when applicable, charged against a prepaid bank card to no more than $2.00 per month; and 4) requires appropriate disclosure of the above card expiration and dormancy fee provisions to prepaid bank card consumers.

A.B. 3495
S.B. 2509
Provides that a gift certificate, prepaid bank card or gift card sold after the effective date of the bill will retain full unused value until presented in exchange for merchandise. Thus, this bill creates a gift certificate, prepaid bank card or gift card that never expires nor has a dormancy fee charged against it. Existing statutory provisions regulate the expiration dates and dormancy fees for gift cards and gift certificates generally. As currently provided by law, a gift card or gift certificate may contain certain conditions and limitations, which are disclosed to the purchaser at the time of purchase. Those conditions and limitations are as follows: (i) In no case shall a gift certificate or gift card expire within the 24 months immediately following the date of sale. (ii) No dormancy fee shall be charged against a gift certificate or a gift card within the 24 months immediately following the date of sale, nor shall one be charged within the 24 months immediately following the most recent activity or transaction in which the certificate or card was used. (iii) A dormancy fee charged against a gift certificate or gift card shall not exceed $2.00 per month.

New York
A.B. 1541
Requires retailers issuing gift certificates to hold the amount equal to the issued gift certificate in escrow to be paid out upon closing of such retailer.

A.B. 2567
Relates to gift certificates; deletes any references to the "dormancy" of gift certificates.

A.B. 5739
Prohibits the sale of gift certificates and gift cards that diminish in value due to dormancy; and prohibits surcharges and fees on gift certificates and gift cards.

A.B. 6956
Provides that gift certificates and store credits shall not contain expiration dates, except in limited circumstances where they are issued for promotional purposes without value being given by the consumer; makes certificates or credit with an expiration date redeemable in cash or replaceable by a certificate or credit without an expiration date.

A.B. 7523
Relates to the sale and use of gift certificates; requires that gift certificates last for at least seven years; requires that the date of issuance and the date of expiration of a gift certificate be either printed on the gift certificate, printed on a customer's receipt, or available through an Internet and toll-free telephone service.

A.B. 7555
Requires that gift certificates, gift cards, or store credits have no expiration or diminution in value over time.

Pennsylvania
H.B. 206
Amends provisions regarding abandoned and unclaimed property; provides for definitions, for property subject to custody and control of the Commonwealth and for property held by business associations.

H.B. 207
Amends the definitions of "unfair methods of competition" and "unfair and deceptive acts or practices" to include selling or offering to sell, by a person engaged in the retail sale of goods or services, a gift certificate to a consumer that expires within a certain number of years, charging an inactivity or other service fee, refusing to accept the gift certificate under certain circumstances, restricting use of the gift certificate, altering terms after issuance and failing to adequately disclose terms and conditions in advertising.

Rhode Island
H.B. 5904
Requires issuers of gift certificates to deposit and hold funds used to purchase the gift certificate in escrow for one year or until the gift certificate is redeemed and restricts certain redemption terms in event of bankruptcy.

S.B. 291
Provides that no service or maintenance fees may be charged on gift cards and certificates less that two years old, and eliminates certain exceptions in the existing statute.

S.B. 859
Requires issuers of gift certificates to deposit and hold funds used to purchase the gift certificate in escrow for one year or until the gift certificate is redeemed and restricts certain redemption terms in event of bankruptcy.

South Carolina
S.B. 381
Amends the Code of Laws of South Carolina, 1976, by adding chapter 17 to title 27 so as to enact the "South Carolina Uniform Unclaimed Property Act of 2009"; and repeals chapter 18 of title 27 relating to unclaimed property; provides for abandoned gift certificates.

Tennessee
H.B. 764
S.B. 1737
Requires gift certificates with a monetary value of less than $10.00 to be redeemable in cash for cash value.

H.B. 1612
S.B. 1119
Requires gift certificates with a monetary value of less than $10.00 to be redeemable in cash for cash value.

H.B. 1876
Substituted 4/30/09
S.B. 1623
Signed by governor 5/21/09, Public Chapter 277
Excludes prepaid cards that are usable with multiple, unaffiliated merchants and/or ATM machines from the gift certificate statute.

Texas
H.B. 1007
Passed House 5/4/09
Amends the Business & Commerce Code to prohibit a person from issuing or selling a stored value card that expires after a certain date and specifies that a condition providing for the expiration of a stored value card is void. The bill makes conforming changes to this code and to the Property Code. The bill removes a specification that provisions for the sale or issuance of a stored value card do not apply to a card for which a seller does not charge a fee other than a fee related to the issuance and handling of a card. Amends the Property Code to require a holder of unclaimed value on a stored value card delivered to the comptroller of public accounts as abandoned property to honor the unclaimed value of the card and authorizes the holder to request, in a form prescribed by the comptroller, reimbursement from the comptroller in an amount equal to the value honored by the holder. The bill requires the comptroller to provide reimbursement to the holder in an amount equal to the value of such a card and requires the comptroller to adopt rules to administer this provision.

H.B. 1771
Passed House 5/1/09
Prohibits retailers from assessing fees on a stored value card, including: a handling fee in connection with the issuance of or adding value to the card; an access fee for a card transaction conducted at an unmanned teller machine; a reissue or replacement charge; or a periodic fee or other charge that caused the unredeemed balance to decrease over time. Allows the comptroller to claim a gift card that did not expire as abandoned property.

H.B. 3155
Relates to the expiration and abandonment of stored value cards.

Utah
S.B. 270
Signed by governor 3/25/09, Chapter 343
Modifies the Unclaimed Property Act to address gift cards. Defines "gift card"; exempts a gift card, gift certificate, or credit memo from the Unclaimed Property Act.

Virginia
H.B. 1658
Passed House 1/30/09
Provides that campaign contributions made through a stored value card may never be accepted. The bill also defines the term "stored value card."

PLEASE NOTE: Please note the summaries should be used for general informational purposes and not as a legal reference. NCSL is unable to provide guidance to citizens or businesses regarding gift cards and gift certificate laws and practices. If you have questions regarding issuing or redeeming a gift card or gift certificate or a retailer's practices, please contact the Office of the Attorney General in your state.



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