Gift Cards and Gift Certificates Statutes and Legislation

Financial Services

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 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	Definition of Gift Card/Gift Certificate	Expiration Date Provision	Fee Provision	Redeemable for Cash	Escheat Provision
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% 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 Oct. 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 B. The underlying monies on a gift card may not be subject to an expiration date. C. A gift card or a code or device associated with a gift card may contain an expiration date with respect to the gift card or the code or device, but not with respect to the underlying monies, if the gift card contains a clear and conspicuous disclosure that the underlying monies do not expire and that the consumer may contact the issuer for a replacement gift card or a replacement code or device associated with the gift card. If the gift card is an electronic gift card, the disclosure shall be in the message to the consumer that contains the card number or code. D. This section does not apply to any of the following: 1. A gift card that is distributed to a consumer pursuant to an awards, loyalty or promotional program when no money or other property with value has been given by the consumer in exchange for the gift card. 2. A gift card that is sold below face value to a nonprofit or charitable organization or that is donated to a nonprofit or charitable organization for fund raising purposes.	Ariz. Rev. Stat. Ann. §44-7402 A. A gift card may not be subject to a fee. D. This section does not apply to any of the following: 1. A gift card that is distributed to a consumer pursuant to an awards, loyalty or promotional program when no money or other property with value has been given by the consumer in exchange for the gift card. 2. A gift card that is sold below face value to a nonprofit or charitable organization or that is donated to a nonprofit or charitable organization for fund raising purposes.		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 Jan. 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. §38-13-102 (11) “Gift card:” (a) Means a stored-value card: (I) The value of which does not expire; (II) That may be decreased in value only by redemption for merchandise, goods, or services; and (III) That, unless required by law, may not be redeemed for or converted into money or otherwise monetized by the issuer; and (b) Includes a prepaid commercial mobile radio service, as defined in 47 CFR 20.3, as amended. (30) “Stored-value card:” (a) Means a record evidencing a promise made for consideration by the seller or issuer of the record that goods, services, or money will be provided to the owner of the record to the value or amount shown in the record; (b) Includes: (I) A record that contains or consists of a microprocessor chip, magnetic strip, or other means for the storage of information, that is prefunded and whose value or amount is decreased on each use and increased by payment of additional consideration; (II) A gift card, except as specified in section 38-13-219; and (III) A payroll card; and (c) Does not include a loyalty card, a financial organization loyalty card, or game-related digital content.		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. §5-2-212 (1) (f) A seller or lessor shall not impose a surcharge if a customer elects to pay for goods or services by: (IV) Redeeming a gift card.	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 $5 or less on request of the holder.	Colo. Rev. Stat. §38-13-207 Subject to section 38-13-210, a gift card is presumed abandoned if it is unclaimed by the apparent owner five years after the later of the date of purchase or its most recent use. Colo. Rev. Stat. §38-13-219 This article 13 does not apply to unclaimed gift cards if the holder or issuer is a business association with annual gross receipts from the sales or issuance of all gift cards totaling $200,000 or less.
Connecticut	Conn. Gen. Stat. §3-56a (5) “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 section 42-370, prepaid commercial mobile radio services, as defined in 47 CFR 20.3 or general-use prepaid cards, as defined in section 42-460a. Conn. Gen. Stat. §42-460a "General-use prepaid card" has the same meaning given to that term in 12 CFR 1005.20(a)(3), as from time to time amended, but shall not include a linked prepaid card or any card, code or other device identified in 12 CFR 1005.20(b). "Linked prepaid card" means a general-use prepaid card that enables the purchaser of or individual who increases or reloads funds onto the card, code or device (A) to receive back the remaining unexpended balance and the accrued interest earned on the unexpended balance on such card, code or device as of the date of expiration of such card, code or device by way of a financial account that is linked to the card, code or device; (B) to set the expiration date on such card, code or device at not less than 90 days from the date of purchase of or increasing or reloading of funds onto such card, code or device, for the purpose of receiving back the unexpended balance and accrued interest earned on the unexpended balance on such card, code or device in an expedited manner; and (C) to transfer the unexpended balance on such card, code or device to a bank offering a higher yield on and full insurance from the Federal Deposit Insurance Corporation for the transferred balance until the consumer or recipient of such card, code or device utilizes the unexpended balance or until the date of expiration on such card, code or device has passed, provided such purchaser or individual has a financial account that is linked to such card, code or device.	Conn. Gen. Stat. §42-460 Prohibits expiration dates. Conn. Gen. Stat. §42-460a (b) 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, provided the remaining balance is not otherwise returned to the holder; (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. A linked 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 linked prepaid card may include an expiration date with regard to such card, code or device, including an expiration date contemplated by subparagraph (B) of subdivision (2) of subsection (a) of this section, 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, provided the purchaser of or individual who increases or reloads funds onto such card, code or device has not set an expiration date in accordance with said subparagraph (B), 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, provided the purchaser of or individual who increases or reloads funds onto such card, code or device has not set an expiration date in accordance with said subparagraph (B); (2) no fee or charge is imposed on such holder for replacing the card, code or device or providing such holder with the remaining balance in some other manner, provided the card, code or device has not been lost or stolen or, if an expiration date has been set in accordance with said subparagraph (B), expired; (3) no fee or charge is imposed on the purchaser of or individual who increases or reloads funds onto the card, code or device for replacing the card, code or device or providing such purchaser or individual with the unexpended balance in some other manner, provided the card, code or device has not been lost or stolen; and (4) 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, unless the purchaser of or individual who increases or reloads funds onto such card, code or device has a financial account that is linked to such card, code or device and sets an expiration date on such card, code or device at not less than 90 days from the date of purchase or increasing or reloading at which time the unexpended balance and any accrued interest on the unexpended balance on such card, code or device shall be transferred to such financial account.	Conn. Gen. Stat. §3-65c Prohibits service fees for gift certificates and general-use prepaid cards.	Conn. Gen. Stat. §42-461 (c) If a person uses a gift card to purchase goods or services and the balance on the gift card is less than $5 after such purchase, the person accepting the gift card as payment, if requested by the purchaser, shall provide the purchaser with a cash refund equal to the value of the remaining balance on the gift card after the purchase.	Conn. Gen. Stat. §3-73a Gift certificates and general-use prepaid cards do not escheat to the state.
Delaware	Del. Code Ann. tit. 12, §1130 (10) “Gift card” means a record that may be used to obtain merchandise, goods, or services at a single retailer of goods or services or an affiliated group of retailers of goods or services. (21) “Property” means tangible property described in section 1134 of this title or a fixed and certain interest in intangible property held, issued, or owed in the course of a holder's business or by a government, governmental subdivision, agency, or instrumentality. The term: b. Includes property referred to as or evidenced by any of the following: 2. A credit balance, customer's overpayment, gift card, stored-value card, security deposit, refund, credit memorandum, unpaid wage, unused ticket for which the issuer has an obligation to provide a refund, pari-mutuel ticket, mineral proceeds, or unidentified remittance.				Del. Code Ann. tit. 12, §1133 Subject to section 1136 of this title, property is presumed abandoned if it is unclaimed by the owner at the time specified for the following property: (14) A stored-value card or gift card, five years after the later of the date of purchase, the addition of funds to the stored-value card or gift card, a verification of the balance by the owner, or the last indication of interest in the property. For a stored-value card or gift card, the amount unclaimed is the amount representing the maximum cost to the issuer of the merchandise, goods, or services represented by the card.
District of Columbia	D.C. Code Ann. 41-151.02 (13)(A) “Gift card” means a stored-value card: (i) The value of which does not expire; (ii) That may be decreased in value only by redemption for merchandise, goods, or services; and (iii) That, unless required by law, may not be redeemed for or converted into money or otherwise monetized by the issuer. (B) The term “gift card” includes a prepaid commercial mobile radio service, as defined in 47 C.F.R. 20.3. (21) “Net card value” means the original purchase price or original issued value of a stored-value card, plus amounts added to the original price or value, minus amounts used and any service charge, fee, or dormancy charge permitted by law. (32)(A) “Stored-value card” means a record evidencing a promise made for consideration by the seller or issuer of the record that goods, services, or money will be provided to the owner of the record to the value or amount shown in the record. (B) The term “stored-value card” includes: (i) A record that contains or consists of a microprocessor chip, magnetic strip, or other means for the storage of information that is prefunded and whose value or amount is decreased on each use and increased by payment of additional consideration; and (ii) A gift card and payroll card. (C) The term “stored-value card” does not include a loyalty card or game-related digital content.				D.C. Code Ann. §41-152.06 (a) Subject to section 41-152.10, the net card value of a stored-value card, other than a payroll card or a gift card, is presumed abandoned on the latest of three years after: (1) Dec. 31 of the year in which the card is issued or additional funds are deposited into it; (2) The most recent indication of interest in the card by the apparent owner; or (3) A verification or review of the balance by or on behalf of the apparent owner. (b) The amount presumed abandoned in a stored-value card is the net card value at the time it is presumed abandoned. D.C. Code Ann. §41-152.07 Subject to section 41-152.10, a gift card is presumed abandoned if it is unclaimed by the apparent owner five years after the later of the date of purchase or its most recent use.
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 post-sale 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 section 655.005, or by a money transmitter, as defined in section 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 section 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 section 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) As used in this paragraph, the term: (i) “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. (ii) “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. (iii) “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) Unfair or deceptive acts or practices in the conduct of consumer transactions and consumer acts or practices in trade or commerce are declared unlawful. (b) By way of illustration only and without limiting the scope of subsection (a) of this Code section, the following practices are declared unlawful: (A) For any person, firm, partnership, association, or corporation to issue a gift certificate, store gift card, or general use gift card without: (i) Including the terms of the gift certificate, store gift card, or general use gift card in the packaging which accompanies the certificate or card at the time of purchase, as well as making such terms available upon request; and (ii) Conspicuously printing the expiration date, if applicable, on the certificate or card and conspicuously printing the amount of any dormancy or nonuse fees on: (I) The certificate or card; or (II) A sticker affixed to the certificate or card. A gift certificate, store gift card, or general use gift card shall be valid in accordance with its terms in exchange for merchandise or services.	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) 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 five years after becoming payable or distributable is presumed abandoned. (b) 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.
Guam	Guam Code Ann. tit. 5, §32803 (a) Gift card/ gift certificate/ store gift card are defined by 12 CFR 205. (b) Paper gift card/ gift certificate/ store gift card means any gift card/gift certificate/ store gift card, or similar instrument, that is issued in printed form only, and 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. (c) Electronic gift card/ gift certificate/ store gift card are defined by 12 CFR 205.	Guam Code Ann. tit 5, §32801 Title IV of the Credit Card Accountability Responsibility and Disclosure Act of 2009, as enacted by Public Law 111–24, and as further amended, is applicable to gift certificates and gift cards sold by merchants doing business on Guam. Such federal law is in addition to the provisions of law enacted by this Article. Gaum Code Ann. tit. 5, §32803 A paper gift card/ gift certificate/ store gift card shall be valid for a period of not less than five years following the date of issue. Any paper gift card/ gift certificate/ store gift card without a date of issue or where the date of issue is not clearly marked shall not have an expiration date. Guam Code Ann. tit. 5, §32804 An electronic gift card/ gift certificate/ store gift card shall not have an expiration date if the buyer of the electronic gift card does not receive a printed sales receipt with both the issuance date and expiration date clearly marked on it or, the buyer or holder of the electronic gift card does not have both the issuance date and the expiration date available through an internet site or through a toll-free information telephone line.
Hawaii	Hawaii Rev. Stat. §481B-13 (f) As used in this section, unless the context requires otherwise: “Certificate issuer” or “issuer” means a restaurant or a person engaged in the business of offering services or goods for sale at retail who sells gift certificates to customers. “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. “Gift certificate” or “certificate” does not include a card, certificate, or other medium that is: (1) Used solely for telephone services; (2) Reloadable and not marketed or labeled as a gift card, gift certificate, or certificate; (3) A loyalty, award, or promotional gift card; (4) Not marketed to the general public; (5) Redeemable solely for admission to events or venues at a particular location or group of affiliated locations, which may also include services or goods obtainable: (A) At the event or venue after admission; or (B) In conjunction with admission to such events or venues, at specific locations affiliated with and in geographic proximity to the event or venue; or (6) Issued by a county for the purpose of loading and storing a dollar value to pay transit fares, other county fees, and other uses as authorized by the applicable county ordinances. “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. Hawaii Rev. Stat. §523A-3.5 (c) As used in this section, “gift certificate” or “gift card:” (1) Means a written promise or electronic payment device that: (A) 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; (B) Is issued in a specific amount (which may or may not be denominated on the gift certificate or gift card); (C) May or may not be increased in value or reloaded; (D) Is purchased, or loaded, or both, on a prepaid basis for the future purchase or delivery of any goods or services; and (E) Is honored upon presentation. (2) Shall not include: (A) An electronic payment device linked to a deposit account, or prepaid telephone calling cards; (B) Flexible spending arrangements as defined in section 106(c)(2) of the Internal Revenue Code (26 U.S.C. 106(c)(2)); flexible spending accounts subject to section 125 of the Internal Revenue Code (26 U.S.C. 125), Archer MSAs as defined in section 220(d) of the Internal Revenue Code (26 U.S.C. 129); dependent care reimbursement accounts subject to section 129 of the Internal Revenue Code (26 U.S.C. 129); health savings accounts subject to section 223(d) of the Internal Revenue Code (26 U.S.C. 223(d)), as amended by section 1201 of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (P.L. 108-173); or similar accounts for which, under the Internal Revenue Code and its implementing regulations, individuals may pay medical expenses, health care expenses, dependent care expenses, or similar expenses on a pretax basis. As used in this subparagraph, “Internal Revenue Code” means the Internal Revenue Code of 1986, as amended; and (C) Payroll cards or other electronic payment devices that are linked to a deposit account and that are given in exchange for goods or services rendered.	Hawaii Rev. Stat. §481B-13 (b) 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) Any restaurant or person engaged in the business of offering services or goods for sale at retail may allow customers to purchase gift certificates. A certificate issuer shall not charge a service fee, including but not limited to a service fee for dormancy or inactivity. Any activation or issuance fee charged shall not exceed the lesser of ten per cent of the face value of the certificate or $5.	Hawaii Rev. Stat. §481B-13 (c) For any gift certificate with a remaining balance less than $5, the certificate issuer shall redeem the remaining value of the gift certificate for cash.	Hawaii Rev. Stat. §523A-3 (a) Property is presumed abandoned if it is unclaimed by the apparent owner during the time set forth below for the particular property: (7) Gift certificate not exempt under section 523A-3.5, five years after Dec. 31 of the year in which the certificate was sold, but if redeemable in merchandise only, the amount abandoned shall be deemed to be 100% of the certificate's face value. Hawaii Rev. Stat. §523A-3.5 (a) This part shall not apply to a gift certificate or gift card; provided the gift certificate or gift card has no expiration date, no expiration period, and no type of post-sale charge or fee (including but not limited to service charges, dormancy fees, account maintenance fees, cash-out fees, replacement card fees, and activation or reactivation charges). (b) This part shall not apply to a gift certificate or gift card that has an expiration date, expiration period, or any type of post-sale charge or fee, including but not limited to service charges, dormancy fees, account maintenance fees, cash-out fees, replacement card fees, and activation or reactivation charges if: (1) The gift certificate or gift card was issued before Jan. 1, 2010; and (2) It is the policy and practice of the issuer of the gift certificate or gift card to: (A) Honor the gift certificate or gift card after its expiration date or the end of its expiration period; and (B) Eliminate all post-sale charges and fees.
Idaho	Idaho Code §14-5-102 As used in this chapter: (11) “Gift card” means a card assigned a certain value that: (a) Does not expire; (b) May be decreased in value only by redemption for merchandise, goods, or services; (c) Unless required by law, may not be redeemed for or converted into money or otherwise monetized by the issuer; and (d) Includes a prepaid commercial mobile radio service, as defined in 47 CFR 20.3. (24) “Property” means tangible property described in section 14-5-205, Idaho Code, or a fixed and certain interest in intangible property held, issued, or owed in the course of a holder's business or by a government or governmental subdivision, agency, or instrumentality. The term property: (c) Does not include: (v) A gift card.				Idaho Code §14-5-101 et seq. Excluded from the definition of property.
Illinois	Ill. Rev. Stat. ch. 765, §1026/15-102 In this Act: (11) “Gift card” means a record evidencing a promise made for consideration by the seller or issuer of the record that goods, services, or money will be provided to the owner of the record to the value or amount shown in the record that is either: (A) a record: (i) issued on a prepaid basis primarily for personal, family, or household purposes to a consumer in a specified amount; (ii) the value of which does not expire; (iii) that is not subject to a dormancy, inactivity, or post-sale service fee; (iv) that is redeemable upon presentation for goods or services; and (v) that, unless required by law, may not be redeemed for or converted into money or otherwise monetized by the issuer; or (B) a prepaid commercial mobile radio service, as defined in 47 CFR 20.3, as amended. (24) “Property” means tangible property described in Section 15-201 or a fixed and certain interest in intangible property held, issued, or owed in the course of a holder's business or by a government, governmental subdivision, agency, or instrumentality. The term: (C) does not include: (iii) a gift card. 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 Jan. 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 Jan. 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 Jan. 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 Jan. 1, 2008, no person shall sell a gift certificate that is subject to a post-purchase fee. Any gift certificate issued prior to Jan. 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 Jan. 1, 2008, may not be reduced in value and the holder of a gift certificate issued after Jan. 1, 2008, may not be penalized in any way for non-use or untimely redemption of the gift certificate.		Ill. Rev. Stat. ch. 765, §1026/15-101 et seq. Excluded from the definition of property.
Indiana	Ind. Code §32-34-1.5-3 The following definitions apply throughout this chapter: (12) “Gift card” means a stored card value: (A) the value of which does not expire; (B) that may be decreased in value only by redemption for merchandise, goods, or services, or due to any fees deducted by the card issuer; and (C) that, unless required by law, may not be redeemed for or converted into money or otherwise monetized by the issuer. The term includes a prepaid commercial mobile radio service (as defined in 47 CFR 20.3). (24) “Property” means tangible property described in section 8 of this chapter or a fixed and certain interest in intangible property held, issued, or owed in the course of a holder's business or by a government or governmental subdivision, agency, or instrumentality. The term does not include property held in a plan described in section 529A of the Internal Revenue Code, game related digital content, a financial organization loyalty program, a loyalty card, a gift card, or an in-store credit for returned merchandise.				Ind. Code §32-34-1.5-1 et seq. Excluded from the definition of property.
Iowa	Iowa Code §537.1301 As used in this chapter, unless otherwise required by the context: 23. “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. 24. a. “Goods” includes, but is not limited to: (6) Gift certificates. b. “Goods” excludes money, chattel paper, documents of title, instruments and merchandise certificates other than gift certificates. Iowa Code §556.1 As used in this chapter, unless the context otherwise requires: 13. a. “Property” means a fixed and certain interest in or right in an intangible that is held, issued, or owed in the course of a holder's business, or by a government or governmental entity, and all income or increment therefrom, including that which is referred to as or evidenced by any of the following: (1) Money, check, draft, deposit, interest, dividend, and income. (2) Credit balance, customer overpayment, gift certificate, security deposit, refund, credit memorandum, unpaid wage, unused airline ticket, unused ticket, mineral proceeds, and unidentified remittance and electronic fund transfer. Iowa Code §556.9 c. For purposes of this section, “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 2. b. Notwithstanding the time limitation in subsection 1, a gift certificate redeemable for merchandise only that is not subject to an expiration date and that is not subject to a deduction from the face value of the gift certificate for failure of the owner of the gift certificate to present the gift certificate in a timely manner, or subject to any other charge or service fee, which card remains unpresented, shall continue in force and be eligible for presentation for an indefinite period of time, and shall not be subject to a presumption of abandonment.	Iowa Code §556.9 2. a. An issuer of a gift certificate shall not deduct from the face value of the gift certificate any charge imposed due to the failure of the owner of the gift certificate to present the gift certificate in a timely manner, 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 such charges and does not regularly reverse or otherwise cancel them.		Iowa Code §556.9 1. c. Except as provided in subsection 2, funds represented by a gift certificate balance that has not been presented within five years from the date of issuance of the gift certificate are presumed abandoned. 2. a. An issuer of a gift certificate shall not deduct from the face value of the gift certificate any charge imposed due to the failure of the owner of the gift certificate to present the gift certificate in a timely manner, 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 such charges and does not regularly reverse or otherwise cancel them. b. Notwithstanding the time limitation in subsection 1, a gift certificate redeemable for merchandise only that is not subject to an expiration date and that is not subject to a deduction from the face value of the gift certificate for failure of the owner of the gift certificate to present the gift certificate in a timely manner, or subject to any other charge or service fee, which card remains unpresented, shall continue in force and be eligible for presentation for an indefinite period of time, and shall not be subject to a presumption of abandonment. c. For purposes of this section, “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.
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 Jan. 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. §393A.010 As used in this chapter: (11) “Gift card”: (a) Means a stored-value card: 1. The value of which does not expire; 2. That may be decreased in value only by redemption for merchandise, goods, or services; and 3. That, unless required by law, may not be redeemed for or converted into money or otherwise monetized by the issuer; and (b) Includes a prepaid commercial mobile radio service, as defined in 47 C.F.R. section 20.3, as amended; (24) “Property”: (d) Does not include: 5. A gift card; (30) “Stored-value card”: (a) Means a record evidencing a promise made for consideration by the seller or issuer of the record that goods, services, or money will be provided to the owner of the record to the value or amount shown in the record; (b) Includes a: 1. Record that contains or consists of a microprocessor chip, magnetic strip, or other means for the storage of information, which is prefunded and whose value or amount is decreased on each use and increased by payment of additional consideration; 2. Gift card; and 3. Payroll card; and (c) Does not include a loyalty card or game-related digital content;	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. §393A.010 et seq. Excluded from the definition of property.
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. §9:153 As used in this chapter: (13) “Property” means a fixed and certain interest in intangible property that is held, issued, or owed in the course of a holder's business, or by a government or governmental entity, and all income or increments therefrom. The term includes property that is referred to as or evidenced by the following: (b) Credit balance, customer's overpayment, gift certificate, security deposit, refund, credit memorandum, unpaid wage, unused ticket, mineral proceeds, or unidentified remittance.	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. §9:154 A. Property is presumed abandoned if it is unclaimed by the apparent owner during the time set forth below for the particular property for the following: (6) Gift certificate, three years after Dec. 31 of the year in which the certificate was sold.
Maine	Me. Rev. Stat. Ann. tit. 33, §2052 11. Gift obligation. “Gift obligation” means a record evidencing 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 for a specified amount shown in the record. A. A gift obligation: (1) Is a bearer instrument not associated with an account holder or individual; (2) May be decreased in value only by redemption for merchandise, goods or services; and (3) Unless required by law, may not be redeemed for or converted into money or otherwise monetized. B. “Gift obligation” does not include account credits or account balances, including credits or balances funded by gift obligations. 19. Net obligation value. “Net obligation value” means the original purchase price or original issued value of a stored-value or gift obligation, plus amounts added to the original price or value, if applicable, minus amounts used and any service charge, fee or dormancy charge permitted by law. 30. Stored-value obligation. “Stored-value obligation” means a record evidencing a promise made for consideration by the seller or issuer of the record that goods, services or money will be provided to the owner of the record in the amount of the value or amount shown in the record. “Stored-value obligation:” A. Includes a record that contains or consists of a microprocessor chip, magnetic strip or other means for the storage of information, that is prefunded and the value or amount of which is decreased on each use and increased by payment of additional consideration; and B. Does not include a loyalty obligation, a gift obligation or game-related digital content.	Me. Rev. Stat. Ann. tit. 33, §2067 4. No period of limitation for redemption. A period of limitation may not be imposed on the owner's right to redeem the gift obligation.	Me. Rev. Stat. Ann. tit. 33, §2067 5. No charges or fees; exception, disclosure. Notwithstanding section 2112, fees or charges may not be imposed on gift obligations, except that the issuer may charge a transaction fee for the initial issuance. The fee must be disclosed in a separate writing prior to the initial issuance or referenced on the gift obligation.	Me. Rev. Stat. Ann. tit. 33, §2067 6. Redemption; balance in cash. If a gift obligation 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 must refund the balance in cash to the consumer. This subsection does not apply to a gift obligation with an initial value of $5 or less.	Me. Rev. Stat. Ann. tit. 33, §2067 1. Presumed abandoned after two years. Subject to section 2070, a gift obligation is presumed abandoned two years after Dec. 31 of the year in which the obligation arises or the most recent transaction involving the obligation occurs, whichever is later. 2. Amount unclaimed. The amount unclaimed of a gift obligation is as follows: A. For a gift obligation whose issuance or whose most recent transaction, whichever is later, occurred during calendar year 2019 or earlier, 60% of the net obligation value at the time it is presumed abandoned; B. For a gift obligation whose issuance or whose most recent transaction, whichever is later, occurred during calendar year 2020, 40% of the net obligation value at the time it is presumed abandoned; C. For a gift obligation whose issuance or whose most recent transaction, whichever is later, occurred during calendar year 2021, 20% of the net obligation value at the time it is presumed abandoned; and D. For a gift obligation whose issuance or whose most recent transaction, whichever is later, occurred during calendar year 2022 or after, 0% of the net obligation value at the time it is presumed abandoned. 3. Not presumed abandoned; sales by a single issuer under $250,000. A gift obligation is not presumed abandoned if it was sold by a single issuer who in the past calendar year sold no more than $250,000 in face value of gift obligations. Sales of gift obligations 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.
Maryland	Md. Commercial Code Ann. §14-1319 (a)(1) In this section, “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. (2) “Gift certificate” does not include: (i) A prepaid telephone calling card; (ii) A prepaid technical support card; (iii) A prepaid card for Internet services; (iv) A coupon for discounted goods or services; (v) A gift certificate that is distributed to an individual under an awards, loyalty, or promotional program in which the recipient does not give money or value for the gift certificate; or (vi) A 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 or services. 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 (b) 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. (c) Any term or condition concerning expiration or a fee or charge that takes effect more than 4 years after the date of purchase must be printed clearly in at least 10 point type in a visible place on: (1) The front or back of the gift certificate; (2) A sticker permanently affixed to the gift certificate; or (3) An envelope containing the gift certificate. (d) Unless the change benefits the consumer, a term or condition disclosed under subsection (c) of this section may not be changed after the date of purchase or issuance. (e) A gift certificate that is sold or issued in violation of this section shall be considered valid and may not be subject to expiration or any fee or charge. (f) A violation of any provision of this section: (1) Is an unfair or deceptive trade practice within the meaning of Title 13 of this article; and (2) Is subject to the enforcement and penalty provisions contained in Title 13 of this article, except section 13-411 of this article. 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) This section applies to a 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. (b) A gift card may be subject to expiration or a post-sale fee, including a service fee, dormancy fee, account maintenance fee, cash-out fee, gift card replacement fee, activation fee, or reactivation fee, if the following disclosures are printed clearly in a visible place on the front or back of the gift card in at least 10-point type: (1) With respect to the expiration date, the date on which the gift card expires; and (2) With respect to a post-sale fee: (i) The amount of the fee; (ii) The circumstances under which the fee will be imposed; (iii) The frequency with which the fee will be imposed; and (iv) Whether the fee is triggered by inactivity. (c) If the disclosures required under subsection (b) of this section are hidden by the packaging of the gift card, the seller or issuer shall give the purchaser a written statement of the disclosures before the gift card is sold or issued. (d) In addition to printing the information required under subsection (b) of this section on a gift card: (1) If a gift card is sold or issued by electronic means, the seller or issuer shall include a conspicuous written statement of the information in the electronic message offering the gift card; and (2) If a gift card is sold or issued by telephonic means, the seller or issuer, before the gift card is sold, shall state the information to the purchaser. (e) Unless the change benefits the consumer, a term or condition disclosed under subsection (b) of this section may not be changed after the date of purchase or issuance. (f) A violation of any provision of this section: (1) Is an unfair or deceptive trade practice within the meaning of Title 13 of this article; and (2) Is subject to the enforcement and penalty provisions contained in Title 13 of this article, except § 13-411 of this article.		Md. Commercial Code Ann. §17-101 (m) “Personal property” does not include: (1) A gift certificate.
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 section 1 of chapter 64H, or any electronic card usable with multiple unaffiliated sellers of goods or services. “Goods,” all things movable purchased primarily for personal, family or household purposes, other than motor vehicles as defined in chapter 255B, including goods which are or are to become fixtures or which are to become incorporated into a structure and gift certificates. Goods shall not include money or choses in action.	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% 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, §5D 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. 200A, §7 (a) Every person holding property declared by this chapter to be presumed abandoned shall report to the treasurer as provided in this section.
Michigan	Mich. Comp. Laws §445.903e (2) As used in this section and sections 3f and 3g: (b) Subject to subsection (3), “gift certificate” means a written promise or a gift card or other electronic payment device that meets all of the following: (i) 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. (ii) Is issued in a specified amount. (iii) May or may not be increased in value or reloaded. (iv) Is purchased or loaded on a prepaid basis for the future purchase or delivery of goods or services. (v) Is honored upon presentation. (3) As used in this section, “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 U.S. Code, 49 USC 41101 to 41113, or a permit issued under chapter 413 of title 49 of the U.S. Code, 49 USC 41301 to 41313. Mich. Comp. Laws §567.222 As used in this act, unless the context otherwise requires: (k) “Intangible property” includes all of the following: (iii) Except as provided in sections 15(4) and 30(1), gift certificates and gift cards.	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 or services shall not charge an inactivity fee or other service fee to a consumer 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) and section 17a, a gift certificate, gift card, or credit memo is presumed abandoned if either of the following applies: (a) The certificate, card, or memo is not claimed or used for a period of three 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 three 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. §89-12-3 As used in this chapter, unless the context otherwise requires: (f) “Intangible personal property” includes, but is not limited to: (ii) Credit balances, customer overpayments, gift certificates, security deposits, refunds, credit memos, unpaid wages, unused airline tickets, and unidentified remittances; except future and prior dividends made by the workers' compensation groups or associations described in paragraph (e).				Miss. Code Ann. §89-12-15 All intangible personal property not otherwise covered by the provisions of this chapter, including any income or increment thereon and deducting any charges that may have accrued, that is held in the ordinary course of the holder's business and has remained unclaimed by the owner for more than five years after it became payable or distributable shall be presumed abandoned.
Missouri					Mo. Rev. Stat. §447.505 (5) Gift certificates, credit memos and credit balances that are redeemable in merchandise only shall be reportable at a rate equal to 60% of their respective face value. The state treasurer shall reimburse the owner the full-face value.
Montana	Mont. Code Ann. §30-14-102 As used in this part, the following definitions apply: (5)(a) “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. §70-9-802 (6) “Gift certificate” has the meaning provided in 30-14-102.	Mont. Code Ann. §30-14-108 (1) A gift certificate is valid until redemption and does not terminate. 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.	Mont. Code Ann. §30-14-108 (2) The value represented by the gift certificate belongs to the possessor and not to the issuer or seller. An issuer or seller may redeem a gift certificate presented by an individual whose name does not match the name on the gift certificate. (3) A gift certificate may not be reduced in value by any fee, including a dormancy fee applied if a certificate is not used.	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 (1) Except as provided in subsection (6), property is presumed abandoned if it is unclaimed by the apparent owner during the time set forth below for the particular property: (f) gift certificate, three years after Dec. 31 of the year in which the certificate was sold, but if redeemable in merchandise only, the amount abandoned is considered to be 60% 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. 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 As used in the Uniform Disposition of Unclaimed Property Act unless the context otherwise requires: (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 Nov. 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. §120A.077 “Gift certificate” has the meaning ascribed to it in NRS 598.0921. Nev. Rev. Stat. §598.0921 3. As used in this section: (a) “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. The term does not include: (1) An instrument or record for prepaid telecommunications or technology services, including, without limitation, a card for prepaid telephone services, a card for prepaid technical support services and an instrument for prepaid Internet service purchased or otherwise distributed to a consumer of such services, including, without limitation, as part of an award, loyalty, promotional or reward program; or (2) An instrument or record, by whatever name called, that may be used to obtain goods or services from more than one person or business entity, if the expiration date is printed plainly and conspicuously on the front or back of the instrument or record.	Nev. Rev. Stat. §598.0921 1. A person engages in a “deceptive trade practice” if, in the course of his or her business or occupation: (a) He or she issues a gift certificate that expires on a certain date, unless either 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 expiration date of the gift certificate; or (2) A toll-free telephone number accompanied by a statement setting forth that the buyer or holder of the gift certificate may call the telephone number to obtain the balance of the gift certificate and the expiration date of the gift certificate; 2. The provisions of this section do not apply to: (a) A gift certificate that is issued as part of an award, loyalty, promotional, rebate, incentive or reward program and for which issuance the issuer does not receive money or any other thing of value; (b) A gift certificate that is sold at a reduced price to an employer or nonprofit or charitable organization, if the expiration date of the gift certificate is not more than 30 days after the date of sale; and (c) A gift certificate that is issued by an establishment licensed pursuant to the provisions of chapter 463 of NRS. Nev. Rev. Stat. §598.09213 1. A person shall not, in the course of the person's business or occupation, offer to provide a gift certificate or gift card, free of charge, as part of a promotion or incentive to potential customers if the promotion or incentive is redeemable only by mail, unless the expiration date of the offer is printed plainly and conspicuously in 12-point bold font on any brochure, leaflet, pamphlet, packaging, advertisement or other written material provided to the recipient of the offer which contains information concerning the offer. This subsection does not apply to an offer upon which the gift certificate or gift card will be provided directly to a potential customer. 2. A person engages in a “deceptive trade practice” if the person violates subsection 1.	Nev. Rev. Stat. §598.0921 (b) He or she imposes upon the buyer or holder of a gift certificate 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 3 continuous years of nonuse, that will cause the service fee to be imposed; or (c) Regardless of the notice provided, he or she imposes upon the buyer or holder of a gift certificate: (1) A service fee or a combination of service fees that exceed a total of $1 per month; or (2) A service fee that commences or is imposed within the first 12 months after the issuance of the gift certificate. 2. The provisions of this section do not apply to: (a) A gift certificate that is issued as part of an award, loyalty, promotional, rebate, incentive or reward program and for which issuance the issuer does not receive money or any other thing of value; (b) A gift certificate that is sold at a reduced price to an employer or nonprofit or charitable organization, if the expiration date of the gift certificate is not more than 30 days after the date of sale; and (c) A gift certificate that is issued by an establishment licensed pursuant to the provisions of chapter 463 of NRS. 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 1. Sixty percent of the unredeemed or uncharged value remaining on a gift certificate which is issued or sold in this state is presumed abandoned and subject to the provisions of this chapter on the: (a) Expiration date; or (b) Date on which the gift certificate is no longer honored by the issuer or seller. 2. This section does not create a cause of action against a person who issues or sells a gift certificate.
New Hampshire	N.H. Rev. Stat. Ann. §358-A:1 As used in this chapter, the following terms shall have the following meaning: IV-a. “Gift certificate” means a promise given in exchange for payment to provide the bearer, upon presentation, goods or services in a specified amount. N.H. Rev. Stat. Ann. §471-C:1 As used in this chapter, unless the context otherwise requires: XI. “Intangible property” includes: (b) Credit balances, customer overpayments, gift certificates, security deposits, refunds, credit memos, unpaid wages, unused airline tickets, and unidentified remittances;	N.H. Rev. Stat. Ann. §358-A:2 It shall be unlawful for any person to use any unfair method of competition or any unfair or deceptive act or practice in the conduct of any trade or commerce within this state. Such unfair method of competition or unfair or deceptive act or practice shall include, but is not limited to, the following: XIII. Selling gift certificates having a face value of $250 or less to purchasers which contain expiration dates. Gift certificates having a face value in excess of $250 shall expire when escheated to the state as abandoned property pursuant to RSA 471-C. Dormancy fees, latency fees, or any other administrative fees or service charges that have the effect of reducing the total amount for which the holder may redeem a gift certificate are prohibited. This paragraph shall not apply to season passes.	N.H. Rev. Stat. Ann. §358-A:2 Dormancy fees, latency fees, or any other administrative fees or service charges that have the effect of reducing the total amount for which the holder may redeem a gift certificate are prohibited.		N.H. Rev. Stat. Ann. §358-A:2 XIII. Selling gift certificates having a face value of $250 or less to purchasers which contain expiration dates. Gift certificates having a face value in excess of $250 shall expire when escheated to the state as abandoned property pursuant to RSA 471-C. Dormancy fees, latency fees, or any other administrative fees or service charges that have the effect of reducing the total amount for which the holder may redeem a gift certificate are prohibited. This paragraph shall not apply to season passes. N.H. Rev. Stat. Ann. §471-C:2 I. Except as otherwise provided in this chapter, all intangible property, including any income or increment derived from it, less any lawful charges, that is held, issued, or owing in the ordinary course of a holder's business and has remained unclaimed by the owner for more than five years after it became payable or distributable is presumed abandoned. II. Property is payable or distributable for the purpose of this chapter notwithstanding the owner's failure to make demand or to present any instrument or document required to receive payment. N.H. Rev. Stat. Ann. §471-C:16 Notwithstanding any law to the contrary, gift certificates of $250 or less, and store credits that were issued for store merchandise credit, regardless of when issued, shall not be property presumed abandoned and shall not be subject to RSA 471-C or any other past or present law. All gift certificates and store credits remitted to the state prior to Jan. 1, 2018, and gift certificates and store credits that are properly determined to be reportable in any compliance audits initiated prior to Jan. 1, 2018, and subsequently remitted, shall remain in the custody of the state unless and until returned to the owner. This section shall not apply to season passes or coupons that are nonrefundable and nonredeemable.
New Jersey	N.J. Rev. Stat. §46:30B-6 t. “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(c) d. As used in this section: “Dormancy fee” means a charge imposed against the unused value of a gift card or gift certificate due to inactivity; “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 telecommunications or technology card, prepaid bank card or rewards card; “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. “Gift certificate” does not include a prepaid telecommunications or technology card, prepaid bank card or rewards card; “Merchandise” means and includes any objects, wares, goods, commodities, services or anything offered, directly or indirectly, to the public for sale; “Prepaid bank card” means a general use, prepaid card or other electronic payment device that is issued by a bank or other financial institution, or a licensed money transmitter, in a pre-denominated amount usable at multiple, unaffiliated merchants or at automated teller machines, or both, but shall not include a card issued by a retail merchant; “Prepaid telecommunications or technology card” includes, but is not limited to: a prepaid telephone calling card; prepaid technical support card; or prepaid Internet disk distributed to or purchased by a consumer; and “Rewards card” means a card or certificate distributed by the issuer to a consumer pursuant to an awards, loyalty, rewards or promotional program, without any money or other consideration or thing of value by the consumer in exchange for the card or certificate.	N.J. Rev. Stat. §46:30B-42.1 i. The funds associated with a stored value card sold on or after Dec. 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)(1) In no case shall the underlying funds associated with a gift certificate or gift card expire within the 24 months immediately following the date of sale. Terms regarding expiration date must be disclosed as specified.	N.J. Rev. Stat. §46:30B-42.1 j. For stored value cards sold on or after Dec. 1, 2012, in addition to the requirements of section 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. §46:30B-43.1 A holder of property subject to R.S.46:30B-42, section 5 of P.L.2010, c. 25 (C.46:30B-42.1), and R.S.46:30B-43 shall not impose on the property a dormancy charge or fee, abandoned property charge or fee, unclaimed property charge or fee, escheat charge or fee, inactivity charge or fee, or any similar charge, fee or penalty for inactivity with respect to the property. Neither the property nor an agreement with respect to the property may contain language suggesting that the property may be subject to that kind of charge, fee or penalty for inactivity. 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 h. Beginning Sept. 1, 2012, if a stored value card 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. Upon receiving evidence of any violation of the provisions of this subsection, the director of the Division of Consumer Affairs, or the director's designee, is empowered to hold hearings upon those violations and upon finding the violation to have been committed, to assess a penalty against the person alleged to have committed the violation in the amounts provided in this subsection. The director shall thereafter return to the owner of the card the amount of the cash value remaining on the card recovered under this subsection, and this shall be the sole remedy available to the owner for those violations. This subsection does not impose on an issuer or merchant or other entity required to comply with the provisions of this subsection an obligation to advertise the availability of a refund balance redemption. Notwithstanding the foregoing or any provision in section 3 of P.L.1981, c. 454 (C.56:12-16), an issuer, seller or redeemer of stored value cards may elect to include a disclosure or may, in the alternative, include a statement on the stored value card or other marketing materials that the card “is not redeemable for cash except as required by law” or similar statement. This subsection shall not apply to (1) a non-reloadable stored value card with an initial value of $5 or less; or (2) a stored value card that is not purchased but is provided in lieu of a refund for returned merchandise; or (3) a stored value card that can be redeemed at multiple merchants that are not under common ownership or control, including but not limited to network-branded stored value cards. N.J. Rev. Stat. §56:8-110(c) c. Beginning Sept. 1, 2012 if a stored value card deemed a gift card or gift certificate pursuant to section 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. Upon receiving evidence of any violation of the provisions of this subsection, the director of the Division of Consumer Affairs, or the director's designee, is empowered to hold hearings upon those violations and upon finding the violation to have been committed, to assess a penalty against the person alleged to have committed the violation in the amounts provided in this subsection. The director shall thereafter return to the owner of the card the amount of the cash value remaining on the card recovered under this subsection, and this shall be the sole remedy available to the owner for those violations. This subsection does not impose on an issuer or merchant or other entity required to comply with the provisions of this subsection an obligation to advertise the availability of a refund balance redemption. Notwithstanding the foregoing or any provision in section 3 of P.L.1981, c. 454 (C.56:12-16), an issuer, seller or redeemer of stored value cards may elect to include a disclosure or may, in the alternative, include a statement on the stored value card or other marketing materials that the card “is not redeemable for cash except as required by law” or similar statement. This subsection shall not apply to (1) a non-reloadable stored value card with an initial value of $5 or less; or (2) a stored value card that is not purchased but is provided in lieu of a refund for returned merchandise; or (3) a stored value card that can be redeemed at multiple merchants that are not under common ownership or control, including but not limited to network-branded stored value cards; or (4) a rewards card; or (5) a stored value card that is donated or sold below face value to a nonprofit or charitable organization or an educational organization; or (6) a stored value card that is redeemable for admission to events or venues at a particular location or group of affiliated locations, or for goods or services in conjunction with admission to those events or venues, or both, at the event or venue or at specific locations affiliated with and in geographic proximity to the event or venue.	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% of the value of the card, in money, on the date the stored value card is presumed abandoned.
New Mexico	N.M. Stat. Ann. §7-8A-1 (13) “property” means tangible property described in Section 7-8A-3 NMSA 1978 or a fixed and certain interest in intangible property that is held, issued, or owed in the course of a holder's business, or by a government, governmental subdivision, agency, or instrumentality, and all income or increments therefrom, but excludes child, spousal or medical support received by the child support enforcement division of the human services department [health care authority department], the New Mexico IV-D agency. The term includes property that is referred to as or evidenced by: (ii) credit balance, customer's overpayment, gift certificate, security deposit, refund, credit memorandum, unpaid wage, unused ticket, mineral proceeds or unidentified remittance. N.M. Stat. Ann. §57-12-26 A. As used in this section, “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: (1) gift certificates, store gift cards or general use prepaid cards distributed to a consumer for promotional, award, incentive, rebate or other similar purposes without any money or other tangible thing of value being given by the consumer in exchange for the gift certificate, store gift card or general use prepaid card; (2) gift certificates, store gift cards or general use prepaid cards that are sold below face value or at a volume discount to employers or to nonprofit and charitable organizations for fund-raising purposes; (3) written promises, plastic cards or other electronic devices that are: (a) used solely for telephone services; or (b) are associated with a deposit, checking, savings or similar account at a banking or other similarly regulated financial institution and that provide payments solely by debiting such account; and (4) 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 sixty 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 Dec. 31 of the year in which the certificate was sold, but if redeemable in merchandise only, the amount abandoned is deemed to be 60% of the certificate's face value.
New York	N.Y. Abandoned Property Law §103 (g) “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. Gift certificate shall not include an electronic payment device linked to a deposit account, or prepaid telephone calling cards regulated under section 92-f of the public service law. Gift certificate also shall not include flexible spending arrangements as defined in section 106(c)(2) of the Internal Revenue Code, 26 U.S.C. section 106(c)(2); flexible spending accounts subject to section 125 of the Internal Revenue Code, 26 U.S.C. section 125; Archer MSAs as defined in Section 220(d) of the Internal Revenue Code, 26 U.S.C. section 220(d); dependent care reimbursement accounts subject to Section 129 of the Internal Revenue Code, 26 U.S.C. section 129; health savings accounts subject to Section 223(d) of the Internal Revenue Code, 26 U.S.C. section 223(d), as amended by Section 1201 of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003, Pub. L. No. 108-173; or similar accounts from which, under the Internal Revenue Code and its implementing regulations, individuals may pay medical expenses, health care expenses, dependent care expenses, or similar expenses on a pretax basis. Gift certificate also shall not include a prepaid discount card or program used to purchase identified goods or services at a price or percentage below the normal and customary price; provided that the expiration date of the prepaid discount card or program is clearly and conspicuously disclosed. Gift certificate also shall not include payroll cards or other electronic payment devices which are linked to a deposit account and which are given in exchange for goods or services rendered. N.Y. General Business Law §396-i 1. (a) For the purposes of this section, the following terms shall have the following meanings: (1) “gift certificate” shall mean a certificate, electronic card, or other pre-funded record 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; (2) “open loop gift certificate” shall mean a gift certificate redeemable at multiple, unaffiliated merchants or service providers; and (3) “promotional gift certificate” shall mean a gift certificate issued for no consideration which includes on the front of the gift certificate (i) a statement indicating that the card is issued for promotional purposes and (ii) the expiration date for the underlying funds. (b) Gift certificate shall not include (i) an electronic payment device linked to a deposit account or which is covered by the exclusion set forth in 15 U.S.C. section 1693 L-1(a)(2)(D)(ii), (ii) a fare payment card or electronic payment device used to pay for travel on a public transportation authority system, or (iii) prepaid telephone calling cards regulated under section 92-f of the public service law. Gift certificate also shall not include flexible spending arrangements as defined in section 106(c)(2) of the Internal Revenue Code, 26 U.S.C. section 106(c)(2); flexible spending accounts subject to Section 125 of the Internal Revenue Code, 26 U.S.C. section 125; Archer MSAs as defined in Section 220(d) of the Internal Revenue Code, 26 U.S.C. section 220(d); dependent care reimbursement accounts subject to section 129 of the Internal Revenue Code, 26 U.S.C. section 129; health savings accounts subject to section 223(d) of the Internal Revenue Code, 26 U.S.C. section 223(d), as amended by section 1201 of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003, Pub. L. No. 108-173; or similar accounts from which, under the Internal Revenue Code and its implementing regulations, individuals may pay medical expenses, health care expenses, dependent care expenses, or similar expenses on a pretax basis. Gift certificate also shall not include a prepaid discount card or program used to purchase identified goods or services at a price or percentage below the normal and customary price; provided that any expiration date of the prepaid discount card or program is clearly and conspicuously disclosed. Gift certificate also shall not include payroll cards or other electronic payment devices which are linked to a deposit account and which are given in exchange for goods or services rendered.	N.Y. General Business Law §396-i 1-a. No person, firm, partnership, association or corporation who or which issues gift certificates or store credits, or who or which conducts a “closing out sale” or “defunct business sale” as such terms are defined in section 581 of this chapter, of the merchandise of any such person, firm, partnership, association or corporation, shall refuse to accept such gift certificate or store credit in payment for goods or services used or bought for use primarily for personal, family or household purposes, including, but not limited to, goods or services advertised on sale or pursuant to a liquidation or close-out, provided that if the certificates or the terms of the store credits limit the period of time during which they may be used, they are presented for redemption before the expiration of such period of time. 2. No person, firm, partnership, association or corporation who or which issues gift certificates or store credits, or who or which conducts a “closing out sale” or “defunct business sale” as such terms are defined in section 581 of this chapter, shall in any manner restrict the holder of a gift certificate or store credit from electing use of such gift certificate or store credit in a manner not inconsistent with stated terms of such gift certificate or store credit, nor shall any person, firm, partnership, association or corporation who or which issues gift certificates or store credits, or who or which conducts a “closing out sale” or “defunct business sale” as such terms are defined in section 581 of this chapter, alter the term of a gift certificate or store credit after it has been issued. 5-a. It shall be unlawful for any person to sell or issue a gift certificate other than a promotional gift certificate where the underlying funds are subject to an expiration date, provided that a gift certificate may be subject to an expiration date which is not earlier than the later of nine years after the date on which the gift certificate was issued, or the date on which funds were last loaded. The terms of expiration of a gift certificate, if any, shall be clearly and conspicuously stated on such gift certificate.	N.Y. General Business Law §396-i 5. (a) No person, firm, partnership, association or corporation shall charge or assess, or sell or issue any gift certificate subject to, any activation fee, retroactive fee, redemption fee, service fee, dormancy fee, latency fee, administrative fee, handling fee, access fee, periodic fee, renewal fee, re-loading fee, or any other fee of any kind, other than an open loop gift certificate subject to an initial one-time activation or issuance fee reasonably related to the cost of the issuer issuing the open loop gift certificate and which shall in no event be in excess of $9. (b) No person, firm, partnership, association or corporation shall sell a gift certificate that has a face value or balance that declines as a result of the passage of time or the dormancy of the gift certificate. (c) For the purposes of this subdivision, “dormancy” shall mean non-use of a gift certificate. Use of a gift certificate shall include, but not be limited to, adding value, or purchases.	N.Y. General Business Law §396-i 5-b. A gift certificate, other than an open loop gift certificate or a promotional gift certificate, with a remaining value of less than $5 may be redeemed upon request for its cash value.	N.Y. Abandoned Property Law §1315 This section shall encompass the following miscellaneous unclaimed property not otherwise covered by any other section of law. Such property shall be paid or delivered to the state comptroller at such times and shall be accompanied by reports in such form as the state comptroller may prescribe. 1. Any unclaimed amount representing unredeemed gift certificates sold after Dec. 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, or held by any corporation (other than a public corporation), joint stock company, individual, association of two or more individuals, committee or business trust in this state, and which has remained unclaimed by the owner of such amount for five years, shall be deemed abandoned property
North Carolina	N.C. Gen. Stat. §66-67.5 (c) Definitions.--As used in this section, the following terms mean: (1) Gift card.--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, or a prepaid long-distance telephone service that is activated by a prepaid card that required dialing an access number or an access code in addition to dialing the phone number to which the user of the prepaid card seeks to connect. (2) Maintenance fee.--Any fee that the owner of the gift card is subject to when the gift card is redeemed, including a service or inactivity fee. N.C. Gen. Stat. §116B-52 (11) “Property” means (i) currency or tangible personal property held by a holder that is physically located in a safe deposit box or other safekeeping depository held by a financial institution within this state or (ii) a fixed and certain interest in intangible property or currency that is held, issued, or owed in the course of a holder's business, or by a government, governmental subdivision, agency, or instrumentality, and all income or increments therefrom. The term includes property that is referred to as or evidenced by: b. Credit balance, customer's overpayment, gift certificate, security deposit, refund, credit memorandum, unpaid wage, unused ticket, mineral proceeds, or unidentified remittance.		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. (d) Limitation.--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. §116B-53 (c) Property is presumed abandoned if it is unclaimed by the apparent owner during the time set forth below for the particular property: (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% 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 §47-30.2-01 15. “Gift card” means a record that: a. Is usable at: (1) A single merchant; or (2) A specified group of merchants; b. Is prefunded before the record is used; and c. Can be used for purchases of goods or services. 27. “Property” means tangible property described in section 47-30.2-08 or a fixed and certain interest in intangible property held, issued, or owed in the course of a holder's business or by a government, governmental subdivision, agency, or instrumentality. b. The term does not include: (4) A gift card. N.D. Cent. Code §51-29-01 As used in this chapter, “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 A person may not limit the time for redemption of a gift certificate to a date before six years after the date of purchase of the gift certificate, place an expiration date on a gift certificate before six years after the date of purchase of the gift certificate, or include on a gift certificate any statement suggesting that an expiration or redemption date, except as permitted in this section, may apply to a gift certificate. This section does not apply to a gift certificate distributed to a consumer pursuant to an awards, loyalty, or promotional program without any money or other thing of value being given in exchange for the gift certificate by the consumer. Any restriction or limitation on such gift certificate must be disclosed to the consumer, in writing, at the time the gift certificate is distributed to the consumer.	N.D. Cent. Code §51-29-02 A person may not charge additional monthly or annual service or maintenance fees on a gift certificate. This section does not apply to a gift certificate distributed to a consumer pursuant to an awards, loyalty, or promotional program without any money or other thing of value being given in exchange for the gift certificate by the consumer. Any restriction or limitation on such gift certificate must be disclosed to the consumer, in writing, at the time the gift certificate is distributed to the consumer.		N.D. Cent. Code §47-30.2-01 et seq. Excluded from the definition of property.
N. Mariana Islands	Not specified in statute
Ohio	Ohio Rev. Code Ann. §1349.61 (E) As used in this section: (1) “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. “Gift card” does not include a prepaid calling card used to make telephone calls.	Ohio Rev. Code Ann. §1349.61 (A)(1) Subject to division (C) of this section, no person or entity shall sell a gift card to a purchaser containing an expiration date that is less than two years after the date the gift card is issued. (B) A gift card sold without an expiration date is valid until redeemed or replaced with a new gift card. (C) Division (A) of this section does not apply to any of the following gift cards: (1) A gift card that is distributed by the issuer to a consumer pursuant to an awards, loyalty, or promotional program without any money or anything of value being given in exchange for the gift card by the consumer; (2) A gift card that is sold below face value at a volume discount to employers or to nonprofit and charitable organizations for fundraising purposes, if the expiration date on that gift card is not more than 30 days after the date of sale; (3) A gift card that is sold by a nonprofit or charitable organization for fundraising purposes; (4) A gift card that an employer gives to an employee if use of the gift card is limited to the employer's business establishment, which may include a group of merchants that are affiliated with that business establishment; (5) A gift certificate issued in accordance with section 1533.131 of the Revised Code that may be used to obtain hunting and fishing licenses, fur taker, special deer, and special wild turkey permits, and wetlands habitat stamps; (6) A gift card that is usable with multiple, unaffiliated sellers of goods or services; (7) A gift card that an employer issues to an employee in recognition of services performed by the employee.	Ohio Rev. Code Ann. §1349.61 (A)(2) No person or entity, within two years after a gift card is issued, 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. (C) Division (A) of this section does not apply to any of the following gift cards: (1) A gift card that is distributed by the issuer to a consumer pursuant to an awards, loyalty, or promotional program without any money or anything of value being given in exchange for the gift card by the consumer; (2) A gift card that is sold below face value at a volume discount to employers or to nonprofit and charitable organizations for fundraising purposes, if the expiration date on that gift card is not more than 30 days after the date of sale; (3) A gift card that is sold by a nonprofit or charitable organization for fundraising purposes; (4) A gift card that an employer gives to an employee if use of the gift card is limited to the employer's business establishment, which may include a group of merchants that are affiliated with that business establishment; (5) A gift certificate issued in accordance with section 1533.131 of the Revised Code that may be used to obtain hunting and fishing licenses, fur taker, special deer, and special wild turkey permits, and wetlands habitat stamps; (6) A gift card that is usable with multiple, unaffiliated sellers of goods or services; (7) A gift card that an employer issues to an employee in recognition of services performed by the employee.		Ohio Rev. Code Ann. §169.01 (B)(2) “Unclaimed funds” does not include any of the following: (d) Either of the following: (i) Any credit or obligation due a retail customer that is represented by a gift certificate, gift card, merchandise credit, or merchandise credit card, redeemable only for goods or services, including gift cards issued by financial organizations or business associations; (ii) Any electronic payment device that is issued by a financial organization or a business association that has no expiration date and meets all of the following conditions: (I) It is purchased or loaded on a prepaid basis for the future purchase or delivery of goods or services. (II) It is redeemable upon presentation to a single merchant or service provider or an affiliated group of merchants or service providers. (III) It is not redeemable for cash in whole or in part. (e) Any open-loop prepaid card that is issued by a financial organization or a business association for which the underlying funds do not expire. For purposes of division (B)(2)(e) of this section, “open-loop prepaid card” means an electronic payment device that meets all of the following conditions: (i) It is purchased or loaded on a prepaid basis for the future purchase or delivery of any goods or services. (ii) It can be used to purchase goods and services at multiple unaffiliated merchants or service providers. (iii) It is not redeemable for cash in whole or in part.
Oklahoma	Okla. Stat. tit. 15, §796 As used in the Gift Certificate and Gift Card Disclosure Act: 1. “Gift card” shall mean 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; 2. “Gift certificate” shall mean 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 a 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 A. It is unlawful for any person or entity to sell a gift certificate or gift card whenever to a purchaser that contains any of the following: 1. An expiration date that expires less than 60 months from the date of purchase. B. A gift certificate or gift card sold without an expiration date is valid until redeemed or replaced. C. This section does not apply to any of the following gift certificates or gift cards issued on or after Nov. 1, 2005, provided the expiration date appears in capital letters in at least 10-point font on the front of the gift certificate or gift card: 1. Gift certificates or gift cards that are distributed by the issuer to a consumer pursuant to an awards, loyalty, or promotional program without any money being given in exchange for the gift certificate or gift card by the consumer; 2. Gift certificates or gift cards that are sold below face value at a volume discount to employers or to nonprofit and charitable organizations for fundraising purposes if the expiration date on those gift certificates or gift cards is not more than 30 days after the date of sale; and 3. Gift certificates or gift cards that are issued for a food product.	Okla. Stat. tit. 15, §797 A. It is unlawful for any person or entity to sell a gift certificate or gift card whenever to a purchaser that contains any of the following: 2. A service fee including, but not limited to, a service fee for dormancy, except as provided in subsection E of this section. D. Paragraph 2 of subsection A of this section does not apply to a dormancy fee on a gift card or gift certificate that meets all of the following criteria: 1. The remaining value of the gift card or gift certificate is $5 or less each time the fee is assessed; 2. The fee does not exceed $1 per month; 3. There has been no activity on the gift card or gift certificate for 24 consecutive months including, but not limited to, purchases, the adding of value, or balance inquiries; 4. The holder may reload or add value to the gift card or gift certificate; and 5. A statement is printed on the gift card or gift certificate in at least 10-point font stating the amount of the fee, how often the fee will occur, that the fee is triggered by inactivity of the gift card or gift certificate, and at what point the fee will be charged. The statement may appear on the front or back of the gift card or gift certificate, but shall appear in a location where it is visible to any purchaser prior to the purchase thereof. E. An issuer of gift certificates or gift cards may accept funds from one or more contributors toward the purchase of a gift certificate or gift card intended to be a gift for a recipient, provided that each contributor is provided with a full refund of the amount that person paid toward the purchase of the gift certificate or gift card upon the occurrence of all of the following: 1. The funds are contributed for the purpose of being redeemed by the recipient by purchasing a gift certificate or gift card; 2. The time in which the recipient may redeem the funds by purchasing a gift certificate or gift card is clearly disclosed in writing to the contributors and the recipient; and 3. The recipient does not redeem the funds within the time described in paragraph 2 of this subsection.		Okla. Stat. tit. 60, §651 et seq. Gift certificates are not specifically included.
Oregon	Or. Rev. Stat. §646A.274 As used in ORS 646A.276 and 646A.278: (1)(a) “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. (b) “Gift card” does not mean prepaid telephone calling cards, prepaid commercial mobile radio services as defined in 47 C.F.R. 20.3, any gift card usable with more than one seller of goods or services or prepaid transportation cards.	Or. Rev. Stat. §646A.276 (1) Except as provided in subsection (2) of this section and ORS 646A.278, a person may not sell a gift card: (a) That has an expiration date. Or. Rev. Stat. §646A.278 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 (1) Except as provided in subsection (2) of this section and ORS 646A.278, a person may not sell a gift card: (b) That has a face value that declines as a result of the passage of time or the lack of use of the card; (c) That has a fee related to the card, including, but not limited to, an inactivity fee, a maintenance fee or a service fee;	Or. Rev. Stat. §646A.276 (1) Except as provided in subsection (2) of this section and ORS 646A.278, a person may not sell a gift card: (d) 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 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 institution 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 (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 holder. The term shall not include debit cards linked to a deposit account or prepaid telephone calling cards. The term also shall not include flexible spending arrangements, including health reimbursement arrangements, as defined in section 106(c)(2) of the Internal Revenue Code of 1986 (Public Law 99-514, 26 U.S.C. § 106(c)(2)); flexible spending accounts subject to section 125 of the Internal Revenue Code of 1986; Archer MSAs as defined in section 220(d) of the Internal Revenue Code of 1986; dependent care reimbursement accounts subject to section 129 of the Internal Revenue Code of 1986; health savings accounts subject to section 223(d) of the Internal Revenue Code of 1986; or similar accounts from which, under the Internal Revenue Code of 1986 and its implementing regulations, individuals may pay medical expenses, health care expenses, dependent care expenses or similar expenses on a pretax basis. “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. The term shall not include general use prepaid cards or debit cards linked to a deposit account. The term also shall not include flexible spending arrangements, including health reimbursement arrangements, as defined in section 106(c)(2) of the Internal Revenue Code of 1986 (Public Law 99-514, 26 U.S.C. § 106(c)(2)); flexible spending accounts subject to section 125 of the Internal Revenue Code of 1986; Archer MSAs as defined in section 220(d) of the Internal Revenue Code of 1986; dependent care reimbursement accounts subject to section 129 of the Internal Revenue Code of 1986; health savings accounts subject to section 223(d) of the Internal Revenue Code of 1986; or similar accounts from which, under the Internal Revenue Code and its implementing regulations, individuals may pay medical expenses, health care expenses, dependent care expenses or similar expenses on a pretax basis. “Gift certificate” shall mean a written promise which is: (i) 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. The term shall not include general use prepaid cards or debit cards linked to a deposit account. The term also shall not include flexible spending arrangements, including health reimbursement arrangements, as defined in section 106(c)(2) of the Internal Revenue Code of 1986 (Public Law 99-514, 26 U.S.C. § 106(c)(2)); flexible spending accounts subject to section 125 of the Internal Revenue Code of 1986; Archer MSAs as defined in section 220(d) of the Internal Revenue Code of 1986; dependent care reimbursement accounts subject to section 129 of the Internal Revenue Code of 1986; health savings accounts subject to section 223(d) of the Internal Revenue Code of 1986; or similar accounts from which, under the Internal Revenue Code and its implementing regulations, individuals may pay medical expenses, health care expenses, dependent care expenses or similar expenses on a pretax basis. “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 post-sale 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. The term shall not include general use prepaid cards.				Pa. Stat. tit. 72, §1301.6 The following property held or owing by a business association is presumed abandoned and unclaimed: 1. 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 after the minimum period specified in section 915(c) of the Consumer Credit Protection Act (Public Law 90-321, 15 U.S.C. section 1693l-1(c)), whichever occurs later, or for three 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 Ann. tit. 10, §4191 (f) Gift card.—Means a prepaid card that is not rechargeable and has a specific monetary consideration entailing an agreement entered into with the issuer so that the cardholder may use it any time he/she chooses to acquire goods or services, up to the specified amount. This term includes, but is not limited to a tangible card, an electronic card or similar instrument that contains a microprocessor chip, magnetic strip, or other data storage medium. (g) Open loop gift card.—Means a gift card that may be used to acquire goods or services in different establishments, other than an affiliated group, where the brand (Visa, Master Card, American Express, etc.) is accepted. (h) Rechargeable gift card.—Means a card, code, or other device that allows the cardholder to add funds after the initial purchase or issue, according to the terms and conditions thereof.	P.R. Code Ann. tit. 10, §4192 Gift cards may have an expiration date limiting the use of funds, which shall not be less than five years as of the date of issue. This expiration date shall be clearly stated in the card in order to be valid. Otherwise, it shall be understood that the card has no expiration date.	P.R. Code Ann. tit. 10, §4193 No gift card initial issue or activation fee, inactivity fee or maintenance fee with respect to a gift card shall be charged.	P.R. Code Ann. tit. 10, §4194 When the balance of a gift card is less than $5, the cardholder shall be entitled to redeem it for cash. The business for which the gift card was issued shall have the exclusive obligation to issue the reimbursement.	P.R. Code tit. 7, §2101 et seq. Gift certificates are not specifically included.
Rhode Island	R.I. Gen. Laws §6-13-12 (a) “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: (1) 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; (2) A gift card, an electronic gift card, stored-value card or certificate; (3) A store card; (4) 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 (5) A similar record or card.	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 or to limit the time for the redemption of a gift certificate or to place an expiration date upon the gift certificate. No gift certificate or any agreement with respect to such gift certificate may contain language suggesting that an expiration date may apply to the gift certificate. Any person, firm, or corporation who or that shall violate the provisions of this section shall be punished by a fine of not more than $200. R.I. Gen. Laws §6-13-12.1 Any gift certificate/card as defined in section 6-13-12 that has been donated for fundraising purposes shall be exempt from the provisions of section 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 or to limit the time for the redemption of a gift certificate or to place an expiration date upon the gift certificate. Any person, firm, or corporation who or 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. (b) Institutions may refund any unused portion of gift certificates that are issued by a state-chartered institution of higher education upon an individual's separation from the institution or otherwise apply such funds against such individual's account at said institution. If such an institution is unable to complete such a refund or application, the associated funds shall be treated as abandoned after a period to two years, and the institution shall escheat such funds to the office of the general treasurer unclaimed property fund.	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 §33-21.1-14 Pursuant to §6-13-12, gift certificates shall not be presumed to be abandoned.
A. Samoa	Statutes unavailable
South Carolina	S.C. Code Ann. §39-1-55 (A) As used in this section, “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) A person shall not issue or sell a gift certificate which provides that the certificate expires before the first anniversary of the date on which the certificate is issued or sold. However, a person may issue or sell a gift certificate which provides for an expiration date before the first anniversary of the date on which the certificate is issued or sold as long as the expiration date is on the front of the gift certificate in capitalized letters in at least 10-point font. A gift certificate that contains an expiration date which does not conform to this subsection expires on the first anniversary of the date on which the certificate is issued or sold.	S.C. Code Ann. §39-1-55 (C) A condition relating to the use of a gift certificate must be stated clearly on the certificate, the envelope, or covering of the certificate, or the receipt given to the purchaser of the certificate, if the condition provides that the certificate decreases in value over a period of time or that a fee is charged against the balance of the certificate after a certain period of time. A gift certificate that does not state clearly a condition described by this subsection may be redeemed at any time for the original value of the certificate, less any amount charged against the balance of the certificate by the consumer.		S.C. Code Ann. §27-18-10 et seq. Gift certificates are not specifically included.
South Dakota	S.D. Codified Laws Ann. §43-41B-1 (10) “Intangible property,” includes: (ii) Credit balances, customer overpayments, gift certificates, security deposits, refunds, credit memos, unpaid wages, unused airline tickets, and unidentified remittances.				S.D. Codified Laws Ann. §43-41B-15 (a) 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. (b) 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. 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 (e) 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. §66-29-102 (9) “Gift card:” (A) Means a stored-value card: (i) The value of which does not expire; (ii) That may be decreased in value only by redemption for merchandise, goods, or services; and (iii) That, unless required by law, must not be redeemed for or converted into money or otherwise monetized by the issuer; and (B) Includes a prepaid commercial mobile radio service, as that term is defined in 47 CFR 20.3 (24) “Property” means tangible property described in sections 66-29-109, 30-2-702, and 31-6-107 or a fixed and certain interest in intangible property held, issued, or owed in the course of a holder's business or by a government, governmental subdivision, agency, or instrumentality. “Property:” (C) Does not include: (iv) A gift card.	Tenn. Code Ann. §47-18-127 (a) Subject to subsection (d), no person or entity shall sell a gift certificate to a purchaser containing an expiration date that is less than two years after the date the gift certificate is issued or shall charge a fee for the issuance of a gift certificate. (c) A gift certificate or prepaid card, as defined in subsection (e), sold without an expiration date is valid until redeemed or replaced with a new gift certificate or prepaid card. (d) Subsections (a) and (b) shall not apply to a gift certificate that is: (1) Distributed by the issuer to a consumer pursuant to an awards, loyalty, or promotional program without any money or anything of value being given in exchange for the gift certificate by the consumer; (2) Sold below face value at a volume discount to employers or given or sold below face value to nonprofit or charitable organizations for fundraising purposes; (3) Sold by a nonprofit or charitable organization for fundraising purposes; (4) Given to an employee by an employer, if use of the gift certificate is limited to the employer's business establishment, which may include a group of merchants that are affiliated with the business establishment; or (5) Issued by an employer to an employee in recognition of services performed by the employee.	Tenn. Code Ann. §47-18-127 (b) No person or entity, within two years after a gift certificate is issued, shall charge service charges or fees relative to the gift certificate, including dormancy fees, latency fees, or administrative fees that have the effect of reducing the total amount for which the holder of the gift certificate may redeem the gift certificate. (d) Subsections (a) and (b) shall not apply to a gift certificate that is: (1) Distributed by the issuer to a consumer pursuant to an awards, loyalty, or promotional program without any money or anything of value being given in exchange for the gift certificate by the consumer; (2) Sold below face value at a volume discount to employers or given or sold below face value to nonprofit or charitable organizations for fundraising purposes; (3) Sold by a nonprofit or charitable organization for fundraising purposes; (4) Given to an employee by an employer, if use of the gift certificate is limited to the employer's business establishment, which may include a group of merchants that are affiliated with the business establishment; or (5) Issued by an employer to an employee in recognition of services performed by the employee.		Tenn. Code Ann. §66-29-105 Excluded from the definition of property.
Texas	Tex. Business & Commerce Code §604.001 In this chapter, “stored value card:” (1) means a record, as defined by section 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 §604.002 This chapter does not apply to a stored value card that: (1) is issued by: (A) a financial institution acting as a financial agent of the United States or this state; (B) a federally insured financial institution, as defined by Section 201.101, Finance Code, if the financial institution is primarily liable for the card as the issuing principal; or (C) an air carrier holding a certificate of public convenience and necessity under Title 49, U.S. Code; (2) is issued as a prepaid calling card by a prepaid calling card company regulated under section 55.253, Utilities Code; (3) is distributed by the issuer to a person under an awards, rewards, loyalty, incentive, rebate, or promotional program and is not issued or reloaded in exchange for money tendered by the cardholder; (4) is sold below face value or donated to: (A) an employee of the seller or issuer; (B) a nonprofit or charitable organization; or (C) an educational institution for fund-raising purposes; or (5) does not expire and for which the seller does not charge a fee other than a fee described in section 604.051.	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. §604.103 A stored value card sold without the disclosure required by this subchapter of an expiration date or policy, fee, or other material restriction or contract term applicable to the card is valid until redeemed or replaced.	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 section 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. Business & Commerce Code Ann. §604.103 A stored value card sold without the disclosure required by this subchapter of an expiration date or policy, fee, or other material restriction or contract term applicable to the card is valid until redeemed or replaced.	Tex. Business & Commerce Code Ann. §604.152 If a stored value card is redeemed in person to make a purchase and a balance of less than $2.50 remains following the redemption, at the consumer’s request the seller shall refund the balance of the card in cash to the consumer.	Tex. Property Code Ann. §72.1016 (a) This section applies to a stored value card, as defined by section 604.001, Business & Commerce Code, other than a card: (1) to which Chapter 604, Business & Commerce Code, does not apply by operation of section 604.002(1)(A) and (C) and section 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 section 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. Tex. Property Code Ann. §72.130 Notwithstanding any other provision of this title except a provision of this section or Section 72.1016 relating to a money order or a stored value card, a holder of abandoned property shall preserve the property and may not at any time, by any procedure, including a deduction for service, maintenance, or other charge, transfer or convert to the profits or assets of the holder or otherwise reduce the value of the property.
Utah	Utah Code Ann. §67-4a-102 (16) (a) "Gift card" means a record that: (i) is usable at: (A) a single merchant; or (B) a specified group of merchants; (ii) is prefunded before the record is used; and (iii) can be used for purchases of goods or services. (b) "Gift card" includes a prepaid commercial mobile radio service as defined in 47 C.F.R. Sec. 20.3. (29) (c) “Property” does not include: (vi) a gift card.	Utah Code Ann. §13-11-4 (2) Without limiting the scope of subsection (1), a supplier commits a deceptive act or practice if the supplier knowingly or intentionally: (v) issues a gift certificate, instrument, or other record in exchange for payment to provide the bearer, upon presentation, goods or services in a specified amount without printing in a readable manner on the gift certificate, instrument, packaging, or record any expiration date or information concerning a fee to be charged and deducted from the balance of 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. (c) Subsections (2)(v) and (4)(b) do 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 (2) Without limiting the scope of subsection (1), a supplier commits a deceptive act or practice if the supplier knowingly or intentionally: (v) issues a gift certificate, instrument, or other record in exchange for payment to provide the bearer, upon presentation, goods or services in a specified amount without printing in a readable manner on the gift certificate, instrument, packaging, or record any expiration date or information concerning a fee to be charged and deducted from the balance of the gift certificate, instrument, or other record. Utah Code Ann. §13-11-4 (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. (c) Subsections (2)(v) and (4)(b) do 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-101 Excluded from the definition of property.
Vermont	Vt. Stat. Ann. tit. 8, §2701 (3) “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 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 prepaid access card or certificate; a store card; or a similar record or card. A gift certificate does not include an access device such as a debit card, code, or other means of access to a consumer's account regularly maintained at a financial institution or credit union that may be used by the consumer to access the funds in his or her account to initiate a withdrawal or to initiate an electronic funds transfer from the consumer's account. (4) “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. (5) “Paid value” means the value of any money or other thing of value given in exchange for a gift certificate. (6) “Promotional value” means any value shown on a gift certificate in excess of the paid value of the gift certificate. Vt. Stat. Ann. tit. 27, §1452 (11) “Gift card” means: (A) a stored-value card: (i) the value of which does not expire; (ii) that may be decreased in value only by redemption for merchandise, goods, or services; and (iii) that, unless required by law, may not be redeemed for or converted into money or otherwise monetized by the issuer; and (B) includes a prepaid commercial mobile radio service, as defined in 47 C.F.R. section 20.3, as may be amended. (24) “Property” means tangible property described in section 1465 of this title or a fixed and certain interest in intangible property held, issued, or owed in the course of a holder's business or by a government, governmental subdivision, agency, or instrumentality. The term: (C) does not include: (iv) a gift card.	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. The date of issuance and the expiration date shall be clearly identified on its face, 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 deemed to have no expiration date. Following the expiration date of the gift certificate, the unused portion of the paid value of the gift certificate shall be returned to the holder of the gift certificate, if requested. Vt. Stat. Ann. tit. 8, §2702a A loyalty, award, or promotional gift certificate shall clearly and legibly set forth the following disclosures, as applicable: (1) a statement indicating that the gift certificate is issued for loyalty, award, or promotional purposes, which shall be included on the front of the gift certificate; (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, §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, §2703 (a) Dormancy fees, latency fees, issuance fees, redemption fees, or any other administrative fees or service charges in connection with a gift certificate are prohibited.	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, §1251 et seq. Excluded from the definition of property.
Virginia	Va. Code §55.1-2500 “Gift certificate” means a certificate, electronic card, or 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 an equal value. “Intangible property” includes (i) moneys, checks, drafts, deposits, interest, and dividend income; (ii) credits, customer overpayments, gift certificates, security deposits, refunds, unpaid wages, and unidentified remittances; (iii) stocks and other intangible ownership interests in business associations; (iv) moneys deposited to redeem stocks, bonds, coupons, and other securities or to make distributions; (v) amounts due and payable under the terms of insurance policies; and (vi) amounts distributable from a trust or custodial fund established under a plan to provide any health, welfare, pension, vacation, severance, retirement, death, stock purchase, profit sharing, employee savings, supplemental unemployment insurance, or similar benefit. Va. Code §59.1-530 As used in this chapter, unless the context clearly requires otherwise: “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. “Merchant” means an owner or operator of any mercantile establishment or any agent, employee, lessee, consignee, officer, director, franchisee, or independent contractor of such owner or operator.	Va. Code §59.1-531 A. 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. C. The information required by this section shall be clearly and permanently imprinted on the certificate.	Va. Code §59.1-531 B. 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. C. The information required by this section shall be clearly and permanently imprinted on the certificate.		Va. Code §55.1-1515 A. Except as described in subsection B, 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 such gift certificate or credit balance became payable is presumed abandoned. B. The following property is exempt from the provisions of this chapter and shall not be assessed by the administrator as unclaimed property: (i) credit balances payable to a business association; (ii) outstanding checks resulting from or attributable to the sale of goods or services to a business association; (iii) promotional incentives; and (iv) credits, gift certificates, coupons, layaways, and similar items, provided that such credits, gift certificates, coupons, layaways, and similar items are redeemable in merchandise, in services, or through future purchases.
Virgin Islands	V.I. Code tit. 28, §652 (13) ‘Property‘ means tangible property described in section 654 or a fixed and certain interest in intangible property that is held, issued, or owed in the course of a holder's business, or by a government, governmental subdivision, agency, or instrumentality, and all income or increments therefrom. The term includes property that is referred to as or evidenced by: (B) credit balance, customer's overpayment, gift certificate, security deposit, refund, credit memorandum, unpaid wage, unused ticket, mineral proceeds, or unidentified remittance.				V.I. Code tit. 28, §653 Property is presumed abandoned if it is unclaimed by the apparent owner three years after Dec. 31 of the year in which the certificate was cold, but if redeemable in merchandise only, the amount abandoned is deemed to be 60% of the certificates face value.
Washington	Wash. Rev. Code §19.240.010 The definitions in this section apply throughout this chapter unless the context clearly requires otherwise. (1)(a) “Gift card” means a record as described in subsection (5)[(2)] 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. (b) “Gift card” does not include prepaid telephone calling cards or prepaid commercial mobile radio services as defined in 47 C.F.R. 20.3. (2)(a) “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. (b) “Gift certificate” does not include prepaid telephone calling cards or prepaid commercial mobile radio services as defined in 47 C.F.R. 20.3. (3) “Bearer” means a person with a right to receive consumer goods and services under the terms of a gift certificate, without regard to any fee, expiration date, or dormancy or inactivity charge. (4) “Issue” means to sell or otherwise provide a gift certificate to any person, and includes reloading or adding value to an existing gift certificate. (5) “Stored value” has the same meaning as the term “closed loop prepaid access” defined in RCW 19.230.010. Wash. Rev. Code §63.30.010 (11) “Gift certificate” means a record described in RCW 19.240.010, and includes both gift cards and gift certificates, including both tangible instruments and electronic records. (24) “Property” means tangible property described in RCW 63.30.080 or a fixed and certain interest in intangible property held, issued, or owed in the course of a holder's business or by a government, governmental subdivision, agency, or instrumentality. The term: (c) Does not include: (iv) A gift certificate complying with chapter 19.240 RCW.	Wash. Rev. Code §19.240.020 (1) Except as provided in RCW 19.240.030, it is unlawful for any person or entity to issue, or to enforce against a bearer, a gift certificate that contains: (a) An expiration date. Wash. Rev. Code §19.240.030 (1) It is lawful to issue, and to enforce against the bearer, a gift certificate containing an expiration date if: (a) The gift certificate is issued pursuant to an awards or loyalty program for the gift certificate. (b) The gift certificate is donated to a charitable organization without any money or other thing of value being given in exchange for the gift certificate if the gift certificate is used by a charitable organization solely to provide charitable services. (2) The expiration date must be disclosed clearly and legibly on any gift certificate described in subsection (1) of this section	Wash. Rev. Code §19.240.020 (1) Except as provided in RCW 19.240.030, it is unlawful for any person or entity to issue, or to enforce against a bearer, a gift certificate that contains: (b) Any fee, including a service fee; or (c) A dormancy or inactivity charge.	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. A gift certificate is valid until redeemed or replaced.	Wash. Rev. Code §63.30.010 et seq. Excluded from the definition of property. 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.
West Virginia	W. Va. Code §36-8-1 “Property” means tangible personal property described in section 3 of this article or a fixed and certain interest in intangible personal property that is held, issued, or owed in the course of a holder's business, or by a government, governmental subdivision, agency or instrumentality, and all income or increments therefrom. The term includes property that is referred to as or evidenced by: Credit balance, customer's overpayment, gift certificate, security deposit, refund, credit memorandum, unpaid wage, unused ticket, mineral proceeds, or unidentified remittance.				W. Va. Code §36-8-2 (a) Property is presumed abandoned if it is unclaimed by the apparent owner during the time set forth below for the particular property: (7) Gift certificate, three years after Dec. 31, of the year in which the certificate was sold, but if redeemable in merchandise only, the amount abandoned is deemed to be 60% of the certificate's face value.
Wisconsin	Wis. Stat. §177.01 (7d)(a) “Gift card” means a record evidencing a promise for consideration by the seller or issuer of the record that merchandise, goods, or services will be provided to the owner of the record equal to the value or amount shown in the record, if all of the following apply: 1. The value or amount does not expire. 2. The value or amount may be decreased only by redemption for merchandise, goods, or services. 3. The value or amount may not be redeemed for or converted into money or otherwise monetized by the issuer. (b) “Gift card” includes the following: 1. A record that contains or consists of a microprocessor chip, magnetic strip, or other means for the storage of information, that is prefunded, and the value or amount of which is decreased on each use and increased by payment of additional consideration. 2. A prepaid commercial mobile radio service, as defined in 47 CFR 20.3, as amended. (c) “Gift card” does not include the following: 1. A stored-value card. 2. A loyalty card. 3. A payroll card. 4. Game-related digital content. 5. A financial organization loyalty card. (13b) (c) “Property” does not include the following: 5. A gift card.				Wis. Stat. §177.01 et seq. Excluded from the definition of property.
Wyoming	Wyo. Stat. §34-24-102 (x) “Intangible property” includes: (B) Credit balances, customer overpayments, gift certificates, merchant stored value cards, security deposits, refunds, credit memos, unpaid wages, unused airline tickets and unidentified remittances except balances represented on debit cards;				Wyo. Stat. §34-24-114 (a) Except as provided by subsection (e) of this section, a gift certificate, merchant stored value card or a credit memo is deemed abandoned if the balance remaining is greater than $100 and it remains unredeemed for more than five years after the later of its issuance date or the last activity by its owner, including partial use, or in the case of a merchant stored value card, an increase in the card balance purchased by the owner. (b) In the case of a gift certificate or merchant stored value card, the amount deemed abandoned is the balance on the gift certificate or merchant stored value card as of the day of abandonment. In the case of a credit memo, the amount deemed abandoned is the amount credited as shown on the memo itself. (c) The amount of a gift certificate, merchant stored value card or credit memo deemed abandoned is subject to the custody of this state in the following circumstances: (i) The records of the issuer show that the last known address of the purchaser of the certificate, merchant stored value card or recipient of the memo is in this state; (ii) Repealed by Laws 2015, ch. 127, section 2, eff. July 1, 2015. (iii) The records of the issuer do not show the address of the purchaser or of the recipient and the issuer is a domiciliary of this state; or (iv) The records of the issuer show that the address of the purchaser or recipient is in or is a state whose escheat or unclaimed property law does not provide for the escheat or custodial taking of gift certificates, merchant stored value cards and credit memos, and the issuer is a domiciliary of this state. (d) Repealed by Laws 2015, ch. 127, section 2, eff. July 1, 2015. (e) A gift certificate or merchant stored value card which has no expiration date and does not impose a fee of any kind in relation to the sale, redemption or replacement of the certificate or card, other than an initial charge not exceeding the face value of the certificate or card, is exempt from the requirements of this section. (f) Repealed by Laws 2016, ch. 73, section 1, eff. July 1, 2016.

State

Definition of Gift Card/Gift Certificate

Expiration Date Provision

Fee Provision

Redeemable for Cash

Escheat Provision

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% 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 Oct. 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

B. The underlying monies on a gift card may not be subject to an expiration date.

C. A gift card or a code or device associated with a gift card may contain an expiration date with respect to the gift card or the code or device, but not with respect to the underlying monies, if the gift card contains a clear and conspicuous disclosure that the underlying monies do not expire and that the consumer may contact the issuer for a replacement gift card or a replacement code or device associated with the gift card. If the gift card is an electronic gift card, the disclosure shall be in the message to the consumer that contains the card number or code.

D. This section does not apply to any of the following: 1. A gift card that is distributed to a consumer pursuant to an awards, loyalty or promotional program when no money or other property with value has been given by the consumer in exchange for the gift card. 2. A gift card that is sold below face value to a nonprofit or charitable organization or that is donated to a nonprofit or charitable organization for fund raising purposes.

Ariz. Rev. Stat. Ann. §44-7402

A. A gift card may not be subject to a fee.

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 Jan. 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. §38-13-102

(11) “Gift card:”

(a) Means a stored-value card:

(I) The value of which does not expire;

(II) That may be decreased in value only by redemption for merchandise, goods, or services; and

(III) That, unless required by law, may not be redeemed for or converted into money or otherwise monetized by the issuer; and

(b) Includes a prepaid commercial mobile radio service, as defined in 47 CFR 20.3, as amended.

(30) “Stored-value card:”

(a) Means a record evidencing a promise made for consideration by the seller or issuer of the record that goods, services, or money will be provided to the owner of the record to the value or amount shown in the record;

(b) Includes:

(I) A record that contains or consists of a microprocessor chip, magnetic strip, or other means for the storage of information, that is prefunded and whose value or amount is decreased on each use and increased by payment of additional consideration;

(II) A gift card, except as specified in section 38-13-219; and

(III) A payroll card; and

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. §5-2-212

(1) (f) A seller or lessor shall not impose a surcharge if a customer elects to pay for goods or services by:

(IV) Redeeming a gift card.

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 $5 or less on request of the holder.

Colo. Rev. Stat. §38-13-207

Subject to section 38-13-210, a gift card is presumed abandoned if it is unclaimed by the apparent owner five years after the later of the date of purchase or its most recent use.

Colo. Rev. Stat. §38-13-219

This article 13 does not apply to unclaimed gift cards if the holder or issuer is a business association with annual gross receipts from the sales or issuance of all gift cards totaling $200,000 or less.

Connecticut

Conn. Gen. Stat. §3-56a

(5) “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 section 42-370, prepaid commercial mobile radio services, as defined in 47 CFR 20.3 or general-use prepaid cards, as defined in section 42-460a.

Conn. Gen. Stat. §42-460a

"General-use prepaid card" has the same meaning given to that term in 12 CFR 1005.20(a)(3), as from time to time amended, but shall not include a linked prepaid card or any card, code or other device identified in 12 CFR 1005.20(b).

"Linked prepaid card" means a general-use prepaid card that enables the purchaser of or individual who increases or reloads funds onto the card, code or device (A) to receive back the remaining unexpended balance and the accrued interest earned on the unexpended balance on such card, code or device as of the date of expiration of such card, code or device by way of a financial account that is linked to the card, code or device; (B) to set the expiration date on such card, code or device at not less than 90 days from the date of purchase of or increasing or reloading of funds onto such card, code or device, for the purpose of receiving back the unexpended balance and accrued interest earned on the unexpended balance on such card, code or device in an expedited manner; and (C) to transfer the unexpended balance on such card, code or device to a bank offering a higher yield on and full insurance from the Federal Deposit Insurance Corporation for the transferred balance until the consumer or recipient of such card, code or device utilizes the unexpended balance or until the date of expiration on such card, code or device has passed, provided such purchaser or individual has a financial account that is linked to such card, code or device.

Conn. Gen. Stat. §42-460

Prohibits expiration dates.

Conn. Gen. Stat. §42-460a

(b) 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, provided the remaining balance is not otherwise returned to the holder; (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.

A linked 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 linked prepaid card may include an expiration date with regard to such card, code or device, including an expiration date contemplated by subparagraph (B) of subdivision (2) of subsection (a) of this section, 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, provided the purchaser of or individual who increases or reloads funds onto such card, code or device has not set an expiration date in accordance with said subparagraph (B), 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, provided the purchaser of or individual who increases or reloads funds onto such card, code or device has not set an expiration date in accordance with said subparagraph (B); (2) no fee or charge is imposed on such holder for replacing the card, code or device or providing such holder with the remaining balance in some other manner, provided the card, code or device has not been lost or stolen or, if an expiration date has been set in accordance with said subparagraph (B), expired; (3) no fee or charge is imposed on the purchaser of or individual who increases or reloads funds onto the card, code or device for replacing the card, code or device or providing such purchaser or individual with the unexpended balance in some other manner, provided the card, code or device has not been lost or stolen; and (4) 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, unless the purchaser of or individual who increases or reloads funds onto such card, code or device has a financial account that is linked to such card, code or device and sets an expiration date on such card, code or device at not less than 90 days from the date of purchase or increasing or reloading at which time the unexpended balance and any accrued interest on the unexpended balance on such card, code or device shall be transferred to such financial account.

Conn. Gen. Stat. §3-65c

Prohibits service fees for gift certificates and general-use prepaid cards.

Conn. Gen. Stat. §42-461

(c) If a person uses a gift card to purchase goods or services and the balance on the gift card is less than $5 after such purchase, the person accepting the gift card as payment, if requested by the purchaser, shall provide the purchaser with a cash refund equal to the value of the remaining balance on the gift card after the purchase.

Conn. Gen. Stat. §3-73a

Gift certificates and general-use prepaid cards do not escheat to the state.

Delaware

Del. Code Ann. tit. 12, §1130

(10) “Gift card” means a record that may be used to obtain merchandise, goods, or services at a single retailer of goods or services or an affiliated group of retailers of goods or services.

(21) “Property” means tangible property described in section 1134 of this title or a fixed and certain interest in intangible property held, issued, or owed in the course of a holder's business or by a government, governmental subdivision, agency, or instrumentality. The term:

b. Includes property referred to as or evidenced by any of the following:

2. A credit balance, customer's overpayment, gift card, stored-value card, security deposit, refund, credit memorandum, unpaid wage, unused ticket for which the issuer has an obligation to provide a refund, pari-mutuel ticket, mineral proceeds, or unidentified remittance.

Del. Code Ann. tit. 12, §1133

Subject to section 1136 of this title, property is presumed abandoned if it is unclaimed by the owner at the time specified for the following property:

(14) A stored-value card or gift card, five years after the later of the date of purchase, the addition of funds to the stored-value card or gift card, a verification of the balance by the owner, or the last indication of interest in the property. For a stored-value card or gift card, the amount unclaimed is the amount representing the maximum cost to the issuer of the merchandise, goods, or services represented by the card.

District of Columbia

D.C. Code Ann. 41-151.02

(13)(A) “Gift card” means a stored-value card:

(i) The value of which does not expire;

(ii) That may be decreased in value only by redemption for merchandise, goods, or services; and

(iii) That, unless required by law, may not be redeemed for or converted into money or otherwise monetized by the issuer.

(B) The term “gift card” includes a prepaid commercial mobile radio service, as defined in 47 C.F.R. 20.3.

(21) “Net card value” means the original purchase price or original issued value of a stored-value card, plus amounts added to the original price or value, minus amounts used and any service charge, fee, or dormancy charge permitted by law.

(32)(A) “Stored-value card” means a record evidencing a promise made for consideration by the seller or issuer of the record that goods, services, or money will be provided to the owner of the record to the value or amount shown in the record.

(B) The term “stored-value card” includes:

(i) A record that contains or consists of a microprocessor chip, magnetic strip, or other means for the storage of information that is prefunded and whose value or amount is decreased on each use and increased by payment of additional consideration; and

(ii) A gift card and payroll card.

D.C. Code Ann. §41-152.06

(a) Subject to section 41-152.10, the net card value of a stored-value card, other than a payroll card or a gift card, is presumed abandoned on the latest of three years after:

(1) Dec. 31 of the year in which the card is issued or additional funds are deposited into it;

(2) The most recent indication of interest in the card by the apparent owner; or

(3) A verification or review of the balance by or on behalf of the apparent owner.

(b) The amount presumed abandoned in a stored-value card is the net card value at the time it is presumed abandoned.

D.C. Code Ann. §41-152.07

Subject to section 41-152.10, a gift card is presumed abandoned if it is unclaimed by the apparent owner five years after the later of the date of purchase or its most recent use.

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 post-sale 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 section 655.005, or by a money transmitter, as defined in section 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 section 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 section 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) As used in this paragraph, the term:

(i) “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.

(ii) “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.

(iii) “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) Unfair or deceptive acts or practices in the conduct of consumer transactions and consumer acts or practices in trade or commerce are declared unlawful.

(b) By way of illustration only and without limiting the scope of subsection (a) of this Code section, the following practices are declared unlawful:

(A) For any person, firm, partnership, association, or corporation to issue a gift certificate, store gift card, or general use gift card without:

(i) Including the terms of the gift certificate, store gift card, or general use gift card in the packaging which accompanies the certificate or card at the time of purchase, as well as making such terms available upon request; and

(ii) Conspicuously printing the expiration date, if applicable, on the certificate or card and conspicuously printing the amount of any dormancy or nonuse fees on:

(I) The certificate or card; or

(II) A sticker affixed to the certificate or card.

A gift certificate, store gift card, or general use gift card shall be valid in accordance with its terms in exchange for merchandise or services.

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) 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 five years after becoming payable or distributable is presumed abandoned.

(b) 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.

Guam

Guam Code Ann. tit. 5, §32803

(a) Gift card/ gift certificate/ store gift card are defined by 12 CFR 205.

(b) Paper gift card/ gift certificate/ store gift card means any gift card/gift certificate/ store gift card, or similar instrument, that is issued in printed form only, and 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.

Guam Code Ann. tit 5, §32801

Title IV of the Credit Card Accountability Responsibility and Disclosure Act of 2009, as enacted by Public Law 111–24, and as further amended, is applicable to gift certificates and gift cards sold by merchants doing business on Guam. Such federal law is in addition to the provisions of law enacted by this Article.

Gaum Code Ann. tit. 5, §32803

A paper gift card/ gift certificate/ store gift card shall be valid for a period of not less than five years following the date of issue. Any paper gift card/ gift certificate/ store gift card without a date of issue or where the date of issue is not clearly marked shall not have an expiration date.

Guam Code Ann. tit. 5, §32804

An electronic gift card/ gift certificate/ store gift card shall not have an expiration date if the buyer of the electronic gift card does not receive a printed sales receipt with both the issuance date and expiration date clearly marked on it or, the buyer or holder of the electronic gift card does not have both the issuance date and the expiration date available through an internet site or through a toll-free information telephone line.

Hawaii

Hawaii Rev. Stat. §481B-13

(f) As used in this section, unless the context requires otherwise:

“Certificate issuer” or “issuer” means a restaurant or a person engaged in the business of offering services or goods for sale at retail who sells gift certificates to customers.

“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. “Gift certificate” or “certificate” does not include a card, certificate, or other medium that is:

(1) Used solely for telephone services;

(2) Reloadable and not marketed or labeled as a gift card, gift certificate, or certificate;

(3) A loyalty, award, or promotional gift card;

(4) Not marketed to the general public;

(5) Redeemable solely for admission to events or venues at a particular location or group of affiliated locations, which may also include services or goods obtainable:

(A) At the event or venue after admission; or

(B) In conjunction with admission to such events or venues, at specific locations affiliated with and in geographic proximity to the event or venue; or

(6) Issued by a county for the purpose of loading and storing a dollar value to pay transit fares, other county fees, and other uses as authorized by the applicable county ordinances.

“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.

Hawaii Rev. Stat. §523A-3.5

(1) Means a written promise or electronic payment device that:

(A) 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;

(B) Is issued in a specific amount (which may or may not be denominated on the gift certificate or gift card);

(D) Is purchased, or loaded, or both, on a prepaid basis for the future purchase or delivery of any goods or services; and

(E) Is honored upon presentation.

(2) Shall not include:

(A) An electronic payment device linked to a deposit account, or prepaid telephone calling cards;

(B) Flexible spending arrangements as defined in section 106(c)(2) of the Internal Revenue Code (26 U.S.C. 106(c)(2)); flexible spending accounts subject to section 125 of the Internal Revenue Code (26 U.S.C. 125), Archer MSAs as defined in section 220(d) of the Internal Revenue Code (26 U.S.C. 129); dependent care reimbursement accounts subject to section 129 of the Internal Revenue Code (26 U.S.C. 129); health savings accounts subject to section 223(d) of the Internal Revenue Code (26 U.S.C. 223(d)), as amended by section 1201 of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (P.L. 108-173); or similar accounts for which, under the Internal Revenue Code and its implementing regulations, individuals may pay medical expenses, health care expenses, dependent care expenses, or similar expenses on a pretax basis. As used in this subparagraph, “Internal Revenue Code” means the Internal Revenue Code of 1986, as amended; and

(C) Payroll cards or other electronic payment devices that are linked to a deposit account and that are given in exchange for goods or services rendered.

Hawaii Rev. Stat. §481B-13

(b) 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) Any restaurant or person engaged in the business of offering services or goods for sale at retail may allow customers to purchase gift certificates. A certificate issuer shall not charge a service fee, including but not limited to a service fee for dormancy or inactivity. Any activation or issuance fee charged shall not exceed the lesser of ten per cent of the face value of the certificate or $5.

Hawaii Rev. Stat. §481B-13

(c) For any gift certificate with a remaining balance less than $5, the certificate issuer shall redeem the remaining value of the gift certificate for cash.

Hawaii Rev. Stat. §523A-3

(a) Property is presumed abandoned if it is unclaimed by the apparent owner during the time set forth below for the particular property:

(7) Gift certificate not exempt under section 523A-3.5, five years after Dec. 31 of the year in which the certificate was sold, but if redeemable in merchandise only, the amount abandoned shall be deemed to be 100% of the certificate's face value.

Hawaii Rev. Stat. §523A-3.5

(a) This part shall not apply to a gift certificate or gift card; provided the gift certificate or gift card has no expiration date, no expiration period, and no type of post-sale charge or fee (including but not limited to service charges, dormancy fees, account maintenance fees, cash-out fees, replacement card fees, and activation or reactivation charges).

(b) This part shall not apply to a gift certificate or gift card that has an expiration date, expiration period, or any type of post-sale charge or fee, including but not limited to service charges, dormancy fees, account maintenance fees, cash-out fees, replacement card fees, and activation or reactivation charges if:

(1) The gift certificate or gift card was issued before Jan. 1, 2010; and

(2) It is the policy and practice of the issuer of the gift certificate or gift card to:

(A) Honor the gift certificate or gift card after its expiration date or the end of its expiration period; and

(B) Eliminate all post-sale charges and fees.

Idaho

Idaho Code §14-5-102

As used in this chapter:

(11) “Gift card” means a card assigned a certain value that:

(a) Does not expire;

(b) May be decreased in value only by redemption for merchandise, goods, or services;

(d) Includes a prepaid commercial mobile radio service, as defined in 47 CFR 20.3.

(24) “Property” means tangible property described in section 14-5-205, Idaho Code, or a fixed and certain interest in intangible property held, issued, or owed in the course of a holder's business or by a government or governmental subdivision, agency, or instrumentality. The term property:

(v) A gift card.

Idaho Code §14-5-101 et seq.

Excluded from the definition of property.

Illinois

Ill. Rev. Stat. ch. 765, §1026/15-102

In this Act:

(11) “Gift card” means a record evidencing a promise made for consideration by the seller or issuer of the record that goods, services, or money will be provided to the owner of the record to the value or amount shown in the record that is either:

(A) a record:

(i) issued on a prepaid basis primarily for personal, family, or household purposes to a consumer in a specified amount;

(ii) the value of which does not expire;

(iii) that is not subject to a dormancy, inactivity, or post-sale service fee;

(iv) that is redeemable upon presentation for goods or services; and

(v) that, unless required by law, may not be redeemed for or converted into money or otherwise monetized by the issuer; or

(B) a prepaid commercial mobile radio service, as defined in 47 CFR 20.3, as amended.

(24) “Property” means tangible property described in Section 15-201 or a fixed and certain interest in intangible property held, issued, or owed in the course of a holder's business or by a government, governmental subdivision, agency, or instrumentality. The term:

(iii) a gift card.

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 Jan. 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 Jan. 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 Jan. 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 Jan. 1, 2008, no person shall sell a gift certificate that is subject to a post-purchase fee.

Any gift certificate issued prior to Jan. 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 Jan. 1, 2008, may not be reduced in value and the holder of a gift certificate issued after Jan. 1, 2008, may not be penalized in any way for non-use or untimely redemption of the gift certificate.

Ill. Rev. Stat. ch. 765, §1026/15-101 et seq.

Excluded from the definition of property.

Indiana

Ind. Code §32-34-1.5-3

The following definitions apply throughout this chapter:

(12) “Gift card” means a stored card value:

(A) the value of which does not expire;

(B) that may be decreased in value only by redemption for merchandise, goods, or services, or due to any fees deducted by the card issuer; and

The term includes a prepaid commercial mobile radio service (as defined in 47 CFR 20.3).

(24) “Property” means tangible property described in section 8 of this chapter or a fixed and certain interest in intangible property held, issued, or owed in the course of a holder's business or by a government or governmental subdivision, agency, or instrumentality.

The term does not include property held in a plan described in section 529A of the Internal Revenue Code, game related digital content, a financial organization loyalty program, a loyalty card, a gift card, or an in-store credit for returned merchandise.

Ind. Code §32-34-1.5-1 et seq.

Excluded from the definition of property.

Iowa

Iowa Code §537.1301

As used in this chapter, unless otherwise required by the context:

23. “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.

24. a. “Goods” includes, but is not limited to:

(6) Gift certificates.

b. “Goods” excludes money, chattel paper, documents of title, instruments and merchandise certificates other than gift certificates.

Iowa Code §556.1

As used in this chapter, unless the context otherwise requires:

13. a. “Property” means a fixed and certain interest in or right in an intangible that is held, issued, or owed in the course of a holder's business, or by a government or governmental entity, and all income or increment therefrom, including that which is referred to as or evidenced by any of the following:

(1) Money, check, draft, deposit, interest, dividend, and income.

(2) Credit balance, customer overpayment, gift certificate, security deposit, refund, credit memorandum, unpaid wage, unused airline ticket, unused ticket, mineral proceeds, and unidentified remittance and electronic fund transfer.

Iowa Code §556.9

c. For purposes of this section, “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

2. b. Notwithstanding the time limitation in subsection 1, a gift certificate redeemable for merchandise only that is not subject to an expiration date and that is not subject to a deduction from the face value of the gift certificate for failure of the owner of the gift certificate to present the gift certificate in a timely manner, or subject to any other charge or service fee, which card remains unpresented, shall continue in force and be eligible for presentation for an indefinite period of time, and shall not be subject to a presumption of abandonment.

Iowa Code §556.9

2. a. An issuer of a gift certificate shall not deduct from the face value of the gift certificate any charge imposed due to the failure of the owner of the gift certificate to present the gift certificate in a timely manner, 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 such charges and does not regularly reverse or otherwise cancel them.

Iowa Code §556.9

1. c. Except as provided in subsection 2, funds represented by a gift certificate balance that has not been presented within five years from the date of issuance of the gift certificate are presumed abandoned.

b. Notwithstanding the time limitation in subsection 1, a gift certificate redeemable for merchandise only that is not subject to an expiration date and that is not subject to a deduction from the face value of the gift certificate for failure of the owner of the gift certificate to present the gift certificate in a timely manner, or subject to any other charge or service fee, which card remains unpresented, shall continue in force and be eligible for presentation for an indefinite period of time, and shall not be subject to a presumption of abandonment.

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 Jan. 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. §393A.010

As used in this chapter:

(11) “Gift card”:

(a) Means a stored-value card:

1. The value of which does not expire;

2. That may be decreased in value only by redemption for merchandise, goods, or services; and

3. That, unless required by law, may not be redeemed for or converted into money or otherwise monetized by the issuer; and

(b) Includes a prepaid commercial mobile radio service, as defined in 47 C.F.R. section 20.3, as amended;

(24) “Property”:

(d) Does not include:

5. A gift card;

(30) “Stored-value card”:

(b) Includes a:

1. Record that contains or consists of a microprocessor chip, magnetic strip, or other means for the storage of information, which is prefunded and whose value or amount is decreased on each use and increased by payment of additional consideration;

2. Gift card; and

3. Payroll card; and

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. §393A.010 et seq.

Excluded from the definition of property.

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. §9:153

As used in this chapter:

(13) “Property” means a fixed and certain interest in intangible property that is held, issued, or owed in the course of a holder's business, or by a government or governmental entity, and all income or increments therefrom. The term includes property that is referred to as or evidenced by the following:

(b) Credit balance, customer's overpayment, gift certificate, security deposit, refund, credit memorandum, unpaid wage, unused ticket, mineral proceeds, or unidentified remittance.

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. §9:154

A. Property is presumed abandoned if it is unclaimed by the apparent owner during the time set forth below for the particular property for the following:

(6) Gift certificate, three years after Dec. 31 of the year in which the certificate was sold.

Maine

Me. Rev. Stat. Ann. tit. 33, §2052

11. Gift obligation. “Gift obligation” means a record evidencing 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 for a specified amount shown in the record.

A. A gift obligation:

(1) Is a bearer instrument not associated with an account holder or individual;

(2) May be decreased in value only by redemption for merchandise, goods or services; and

(3) Unless required by law, may not be redeemed for or converted into money or otherwise monetized.

B. “Gift obligation” does not include account credits or account balances, including credits or balances funded by gift obligations.

19. Net obligation value. “Net obligation value” means the original purchase price or original issued value of a stored-value or gift obligation, plus amounts added to the original price or value, if applicable, minus amounts used and any service charge, fee or dormancy charge permitted by law.

30. Stored-value obligation. “Stored-value obligation” means a record evidencing a promise made for consideration by the seller or issuer of the record that goods, services or money will be provided to the owner of the record in the amount of the value or amount shown in the record. “Stored-value obligation:”

A. Includes a record that contains or consists of a microprocessor chip, magnetic strip or other means for the storage of information, that is prefunded and the value or amount of which is decreased on each use and increased by payment of additional consideration; and

B. Does not include a loyalty obligation, a gift obligation or game-related digital content.

Me. Rev. Stat. Ann. tit. 33, §2067

4. No period of limitation for redemption. A period of limitation may not be imposed on the owner's right to redeem the gift obligation.

Me. Rev. Stat. Ann. tit. 33, §2067

5. No charges or fees; exception, disclosure. Notwithstanding section 2112, fees or charges may not be imposed on gift obligations, except that the issuer may charge a transaction fee for the initial issuance. The fee must be disclosed in a separate writing prior to the initial issuance or referenced on the gift obligation.

Me. Rev. Stat. Ann. tit. 33, §2067

6. Redemption; balance in cash. If a gift obligation 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 must refund the balance in cash to the consumer. This subsection does not apply to a gift obligation with an initial value of $5 or less.

Me. Rev. Stat. Ann. tit. 33, §2067

1. Presumed abandoned after two years. Subject to section 2070, a gift obligation is presumed abandoned two years after Dec. 31 of the year in which the obligation arises or the most recent transaction involving the obligation occurs, whichever is later.

2. Amount unclaimed. The amount unclaimed of a gift obligation is as follows:

A. For a gift obligation whose issuance or whose most recent transaction, whichever is later, occurred during calendar year 2019 or earlier, 60% of the net obligation value at the time it is presumed abandoned;

B. For a gift obligation whose issuance or whose most recent transaction, whichever is later, occurred during calendar year 2020, 40% of the net obligation value at the time it is presumed abandoned;

C. For a gift obligation whose issuance or whose most recent transaction, whichever is later, occurred during calendar year 2021, 20% of the net obligation value at the time it is presumed abandoned; and

D. For a gift obligation whose issuance or whose most recent transaction, whichever is later, occurred during calendar year 2022 or after, 0% of the net obligation value at the time it is presumed abandoned.

3. Not presumed abandoned; sales by a single issuer under $250,000. A gift obligation is not presumed abandoned if it was sold by a single issuer who in the past calendar year sold no more than $250,000 in face value of gift obligations. Sales of gift obligations 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.

Maryland

Md. Commercial Code Ann. §14-1319

(a)(1) In this section, “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.

(2) “Gift certificate” does not include:

(i) A prepaid telephone calling card;

(ii) A prepaid technical support card;

(iii) A prepaid card for Internet services;

(iv) A coupon for discounted goods or services;

(v) A gift certificate that is distributed to an individual under an awards, loyalty, or promotional program in which the recipient does not give money or value for the gift certificate; or

(vi) A 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 or services.

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

(b) 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.

(c) Any term or condition concerning expiration or a fee or charge that takes effect more than 4 years after the date of purchase must be printed clearly in at least 10 point type in a visible place on:

(1) The front or back of the gift certificate;

(2) A sticker permanently affixed to the gift certificate; or

(3) An envelope containing the gift certificate.

(d) Unless the change benefits the consumer, a term or condition disclosed under subsection (c) of this section may not be changed after the date of purchase or issuance.

(e) A gift certificate that is sold or issued in violation of this section shall be considered valid and may not be subject to expiration or any fee or charge.

(f) A violation of any provision of this section:

(1) Is an unfair or deceptive trade practice within the meaning of Title 13 of this article; and

(2) Is subject to the enforcement and penalty provisions contained in Title 13 of this article, except section 13-411 of this article.

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) This section applies to a 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.

(b) A gift card may be subject to expiration or a post-sale fee, including a service fee, dormancy fee, account maintenance fee, cash-out fee, gift card replacement fee, activation fee, or reactivation fee, if the following disclosures are printed clearly in a visible place on the front or back of the gift card in at least 10-point type:

(1) With respect to the expiration date, the date on which the gift card expires; and

(2) With respect to a post-sale fee:

(i) The amount of the fee;

(ii) The circumstances under which the fee will be imposed;

(iii) The frequency with which the fee will be imposed; and

(iv) Whether the fee is triggered by inactivity.

(c) If the disclosures required under subsection (b) of this section are hidden by the packaging of the gift card, the seller or issuer shall give the purchaser a written statement of the disclosures before the gift card is sold or issued.

(d) In addition to printing the information required under subsection (b) of this section on a gift card:

(1) If a gift card is sold or issued by electronic means, the seller or issuer shall include a conspicuous written statement of the information in the electronic message offering the gift card; and

(2) If a gift card is sold or issued by telephonic means, the seller or issuer, before the gift card is sold, shall state the information to the purchaser.

(e) Unless the change benefits the consumer, a term or condition disclosed under subsection (b) of this section may not be changed after the date of purchase or issuance.

(f) A violation of any provision of this section:

(1) Is an unfair or deceptive trade practice within the meaning of Title 13 of this article; and

(2) Is subject to the enforcement and penalty provisions contained in Title 13 of this article, except § 13-411 of this article.

Md. Commercial Code Ann. §17-101

(m) “Personal property” does not include:

(1) A gift certificate.

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 section 1 of chapter 64H, or any electronic card usable with multiple unaffiliated sellers of goods or services.

“Goods,” all things movable purchased primarily for personal, family or household purposes, other than motor vehicles as defined in chapter 255B, including goods which are or are to become fixtures or which are to become incorporated into a structure and gift certificates. Goods shall not include money or choses in action.

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% 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, §5D

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. 200A, §7

(a) Every person holding property declared by this chapter to be presumed abandoned shall report to the treasurer as provided in this section.

Michigan

Mich. Comp. Laws §445.903e

(2) As used in this section and sections 3f and 3g:

(b) Subject to subsection (3), “gift certificate” means a written promise or a gift card or other electronic payment device that meets all of the following:

(i) 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.

(ii) Is issued in a specified amount.

(iii) May or may not be increased in value or reloaded.

(iv) Is purchased or loaded on a prepaid basis for the future purchase or delivery of goods or services.

(v) Is honored upon presentation.

(3) As used in this section, “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 U.S. Code, 49 USC 41101 to 41113, or a permit issued under chapter 413 of title 49 of the U.S. Code, 49 USC 41301 to 41313.

Mich. Comp. Laws §567.222

As used in this act, unless the context otherwise requires:

(k) “Intangible property” includes all of the following:

(iii) Except as provided in sections 15(4) and 30(1), gift certificates and gift cards.

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 or services shall not charge an inactivity fee or other service fee to a consumer 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) and section 17a, a gift certificate, gift card, or credit memo is presumed abandoned if either of the following applies:

(a) The certificate, card, or memo is not claimed or used for a period of three 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 three 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. §89-12-3

As used in this chapter, unless the context otherwise requires:

(f) “Intangible personal property” includes, but is not limited to:

(ii) Credit balances, customer overpayments, gift certificates, security deposits, refunds, credit memos, unpaid wages, unused airline tickets, and unidentified remittances; except future and prior dividends made by the workers' compensation groups or associations described in paragraph (e).

Miss. Code Ann. §89-12-15

All intangible personal property not otherwise covered by the provisions of this chapter, including any income or increment thereon and deducting any charges that may have accrued, that is held in the ordinary course of the holder's business and has remained unclaimed by the owner for more than five years after it became payable or distributable shall be presumed abandoned.

Missouri

Mo. Rev. Stat. §447.505

(5) Gift certificates, credit memos and credit balances that are redeemable in merchandise only shall be reportable at a rate equal to 60% of their respective face value. The state treasurer shall reimburse the owner the full-face value.

Montana

Mont. Code Ann. §30-14-102

As used in this part, the following definitions apply:

(5)(a) “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. §70-9-802

(6) “Gift certificate” has the meaning provided in 30-14-102.

Mont. Code Ann. §30-14-108

(1) A gift certificate is valid until redemption and does not terminate. 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.

Mont. Code Ann. §30-14-108

(2) The value represented by the gift certificate belongs to the possessor and not to the issuer or seller. An issuer or seller may redeem a gift certificate presented by an individual whose name does not match the name on the gift certificate.

(3) A gift certificate may not be reduced in value by any fee, including a dormancy fee applied if a certificate is not used.

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

(1) Except as provided in subsection (6), property is presumed abandoned if it is unclaimed by the apparent owner during the time set forth below for the particular property:

(f) gift certificate, three years after Dec. 31 of the year in which the certificate was sold, but if redeemable in merchandise only, the amount abandoned is considered to be 60% 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. 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

As used in the Uniform Disposition of Unclaimed Property Act unless the context otherwise requires:

(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 Nov. 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. §120A.077

“Gift certificate” has the meaning ascribed to it in NRS 598.0921.

Nev. Rev. Stat. §598.0921

3. As used in this section:

(a) “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. The term does not include:

(1) An instrument or record for prepaid telecommunications or technology services, including, without limitation, a card for prepaid telephone services, a card for prepaid technical support services and an instrument for prepaid Internet service purchased or otherwise distributed to a consumer of such services, including, without limitation, as part of an award, loyalty, promotional or reward program; or

(2) An instrument or record, by whatever name called, that may be used to obtain goods or services from more than one person or business entity, if the expiration date is printed plainly and conspicuously on the front or back of the instrument or record.

Nev. Rev. Stat. §598.0921

1. A person engages in a “deceptive trade practice” if, in the course of his or her business or occupation:

(a) He or she issues a gift certificate that expires on a certain date, unless either 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 expiration date of the gift certificate; or

(2) A toll-free telephone number accompanied by a statement setting forth that the buyer or holder of the gift certificate may call the telephone number to obtain the balance of the gift certificate and the expiration date of the gift certificate;

2. The provisions of this section do not apply to:

(a) A gift certificate that is issued as part of an award, loyalty, promotional, rebate, incentive or reward program and for which issuance the issuer does not receive money or any other thing of value;

(b) A gift certificate that is sold at a reduced price to an employer or nonprofit or charitable organization, if the expiration date of the gift certificate is not more than 30 days after the date of sale; and

Nev. Rev. Stat. §598.09213

1. A person shall not, in the course of the person's business or occupation, offer to provide a gift certificate or gift card, free of charge, as part of a promotion or incentive to potential customers if the promotion or incentive is redeemable only by mail, unless the expiration date of the offer is printed plainly and conspicuously in 12-point bold font on any brochure, leaflet, pamphlet, packaging, advertisement or other written material provided to the recipient of the offer which contains information concerning the offer. This subsection does not apply to an offer upon which the gift certificate or gift card will be provided directly to a potential customer.

2. A person engages in a “deceptive trade practice” if the person violates subsection 1.

Nev. Rev. Stat. §598.0921

(b) He or she imposes upon the buyer or holder of a gift certificate 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 3 continuous years of nonuse, that will cause the service fee to be imposed; or

(1) A service fee or a combination of service fees that exceed a total of $1 per month; or

(2) A service fee that commences or is imposed within the first 12 months after the issuance of the gift certificate.

2. The provisions of this section do not apply to:

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

1. Sixty percent of the unredeemed or uncharged value remaining on a gift certificate which is issued or sold in this state is presumed abandoned and subject to the provisions of this chapter on the:

(a) Expiration date; or

(b) Date on which the gift certificate is no longer honored by the issuer or seller.

2. This section does not create a cause of action against a person who issues or sells a gift certificate.

New Hampshire

N.H. Rev. Stat. Ann. §358-A:1

As used in this chapter, the following terms shall have the following meaning:

IV-a. “Gift certificate” means a promise given in exchange for payment to provide the bearer, upon presentation, goods or services in a specified amount.

N.H. Rev. Stat. Ann. §471-C:1

As used in this chapter, unless the context otherwise requires:

XI. “Intangible property” includes:

(b) Credit balances, customer overpayments, gift certificates, security deposits, refunds, credit memos, unpaid wages, unused airline tickets, and unidentified remittances;

N.H. Rev. Stat. Ann. §358-A:2

It shall be unlawful for any person to use any unfair method of competition or any unfair or deceptive act or practice in the conduct of any trade or commerce within this state. Such unfair method of competition or unfair or deceptive act or practice shall include, but is not limited to, the following:

XIII. Selling gift certificates having a face value of $250 or less to purchasers which contain expiration dates. Gift certificates having a face value in excess of $250 shall expire when escheated to the state as abandoned property pursuant to RSA 471-C. Dormancy fees, latency fees, or any other administrative fees or service charges that have the effect of reducing the total amount for which the holder may redeem a gift certificate are prohibited. This paragraph shall not apply to season passes.

N.H. Rev. Stat. Ann. §358-A:2

Dormancy fees, latency fees, or any other administrative fees or service charges that have the effect of reducing the total amount for which the holder may redeem a gift certificate are prohibited.

N.H. Rev. Stat. Ann. §358-A:2

N.H. Rev. Stat. Ann. §471-C:2

I. Except as otherwise provided in this chapter, all intangible property, including any income or increment derived from it, less any lawful charges, that is held, issued, or owing in the ordinary course of a holder's business and has remained unclaimed by the owner for more than five years after it became payable or distributable is presumed abandoned.

II. Property is payable or distributable for the purpose of this chapter notwithstanding the owner's failure to make demand or to present any instrument or document required to receive payment.

N.H. Rev. Stat. Ann. §471-C:16

Notwithstanding any law to the contrary, gift certificates of $250 or less, and store credits that were issued for store merchandise credit, regardless of when issued, shall not be property presumed abandoned and shall not be subject to RSA 471-C or any other past or present law. All gift certificates and store credits remitted to the state prior to Jan. 1, 2018, and gift certificates and store credits that are properly determined to be reportable in any compliance audits initiated prior to Jan. 1, 2018, and subsequently remitted, shall remain in the custody of the state unless and until returned to the owner. This section shall not apply to season passes or coupons that are nonrefundable and nonredeemable.

New Jersey

N.J. Rev. Stat. §46:30B-6

t. “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(c)

d. As used in this section:

“Dormancy fee” means a charge imposed against the unused value of a gift card or gift certificate due to inactivity;

“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 telecommunications or technology card, prepaid bank card or rewards card;

“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. “Gift certificate” does not include a prepaid telecommunications or technology card, prepaid bank card or rewards card;

“Merchandise” means and includes any objects, wares, goods, commodities, services or anything offered, directly or indirectly, to the public for sale;

“Prepaid bank card” means a general use, prepaid card or other electronic payment device that is issued by a bank or other financial institution, or a licensed money transmitter, in a pre-denominated amount usable at multiple, unaffiliated merchants or at automated teller machines, or both, but shall not include a card issued by a retail merchant;

“Prepaid telecommunications or technology card” includes, but is not limited to: a prepaid telephone calling card; prepaid technical support card; or prepaid Internet disk distributed to or purchased by a consumer; and

“Rewards card” means a card or certificate distributed by the issuer to a consumer pursuant to an awards, loyalty, rewards or promotional program, without any money or other consideration or thing of value by the consumer in exchange for the card or certificate.

N.J. Rev. Stat. §46:30B-42.1

i. The funds associated with a stored value card sold on or after Dec. 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)(1)

In no case shall the underlying funds associated with a gift certificate or gift card expire within the 24 months immediately following the date of sale. Terms regarding expiration date must be disclosed as specified.

N.J. Rev. Stat. §46:30B-42.1

j. For stored value cards sold on or after Dec. 1, 2012, in addition to the requirements of section 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. §46:30B-43.1

A holder of property subject to R.S.46:30B-42, section 5 of P.L.2010, c. 25 (C.46:30B-42.1), and R.S.46:30B-43 shall not impose on the property a dormancy charge or fee, abandoned property charge or fee, unclaimed property charge or fee, escheat charge or fee, inactivity charge or fee, or any similar charge, fee or penalty for inactivity with respect to the property. Neither the property nor an agreement with respect to the property may contain language suggesting that the property may be subject to that kind of charge, fee or penalty for inactivity.

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

h. Beginning Sept. 1, 2012, if a stored value card 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. Upon receiving evidence of any violation of the provisions of this subsection, the director of the Division of Consumer Affairs, or the director's designee, is empowered to hold hearings upon those violations and upon finding the violation to have been committed, to assess a penalty against the person alleged to have committed the violation in the amounts provided in this subsection. The director shall thereafter return to the owner of the card the amount of the cash value remaining on the card recovered under this subsection, and this shall be the sole remedy available to the owner for those violations.

This subsection does not impose on an issuer or merchant or other entity required to comply with the provisions of this subsection an obligation to advertise the availability of a refund balance redemption. Notwithstanding the foregoing or any provision in section 3 of P.L.1981, c. 454 (C.56:12-16), an issuer, seller or redeemer of stored value cards may elect to include a disclosure or may, in the alternative, include a statement on the stored value card or other marketing materials that the card “is not redeemable for cash except as required by law” or similar statement.

N.J. Rev. Stat. §56:8-110(c)

c. Beginning Sept. 1, 2012 if a stored value card deemed a gift card or gift certificate pursuant to section 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.

This subsection shall not apply to (1) a non-reloadable stored value card with an initial value of $5 or less; or (2) a stored value card that is not purchased but is provided in lieu of a refund for returned merchandise; or (3) a stored value card that can be redeemed at multiple merchants that are not under common ownership or control, including but not limited to network-branded stored value cards; or (4) a rewards card; or (5) a stored value card that is donated or sold below face value to a nonprofit or charitable organization or an educational organization; or (6) a stored value card that is redeemable for admission to events or venues at a particular location or group of affiliated locations, or for goods or services in conjunction with admission to those events or venues, or both, at the event or venue or at specific locations affiliated with and in geographic proximity to the event or venue.

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% of the value of the card, in money, on the date the stored value card is presumed abandoned.

New Mexico

N.M. Stat. Ann. §7-8A-1

(13) “property” means tangible property described in Section 7-8A-3 NMSA 1978 or a fixed and certain interest in intangible property that is held, issued, or owed in the course of a holder's business, or by a government, governmental subdivision, agency, or instrumentality, and all income or increments therefrom, but excludes child, spousal or medical support received by the child support enforcement division of the human services department [health care authority department], the New Mexico IV-D agency. The term includes property that is referred to as or evidenced by:

(ii) credit balance, customer's overpayment, gift certificate, security deposit, refund, credit memorandum, unpaid wage, unused ticket, mineral proceeds or unidentified remittance.

N.M. Stat. Ann. §57-12-26

A. As used in this section, “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:

(1) gift certificates, store gift cards or general use prepaid cards distributed to a consumer for promotional, award, incentive, rebate or other similar purposes without any money or other tangible thing of value being given by the consumer in exchange for the gift certificate, store gift card or general use prepaid card;

(2) gift certificates, store gift cards or general use prepaid cards that are sold below face value or at a volume discount to employers or to nonprofit and charitable organizations for fund-raising purposes;

(3) written promises, plastic cards or other electronic devices that are:

(a) used solely for telephone services; or

(b) are associated with a deposit, checking, savings or similar account at a banking or other similarly regulated financial institution and that provide payments solely by debiting such account; and

(4) 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 sixty 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 Dec. 31 of the year in which the certificate was sold, but if redeemable in merchandise only, the amount abandoned is deemed to be 60% of the certificate's face value.

New York

N.Y. Abandoned Property Law §103

(g) “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. Gift certificate shall not include an electronic payment device linked to a deposit account, or prepaid telephone calling cards regulated under section 92-f of the public service law. Gift certificate also shall not include flexible spending arrangements as defined in section 106(c)(2) of the Internal Revenue Code, 26 U.S.C. section 106(c)(2); flexible spending accounts subject to section 125 of the Internal Revenue Code, 26 U.S.C. section 125; Archer MSAs as defined in Section 220(d) of the Internal Revenue Code, 26 U.S.C. section 220(d); dependent care reimbursement accounts subject to Section 129 of the Internal Revenue Code, 26 U.S.C. section 129; health savings accounts subject to Section 223(d) of the Internal Revenue Code, 26 U.S.C. section 223(d), as amended by Section 1201 of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003, Pub. L. No. 108-173; or similar accounts from which, under the Internal Revenue Code and its implementing regulations, individuals may pay medical expenses, health care expenses, dependent care expenses, or similar expenses on a pretax basis. Gift certificate also shall not include a prepaid discount card or program used to purchase identified goods or services at a price or percentage below the normal and customary price; provided that the expiration date of the prepaid discount card or program is clearly and conspicuously disclosed. Gift certificate also shall not include payroll cards or other electronic payment devices which are linked to a deposit account and which are given in exchange for goods or services rendered.

N.Y. General Business Law §396-i

1. (a) For the purposes of this section, the following terms shall have the following meanings:

(1) “gift certificate” shall mean a certificate, electronic card, or other pre-funded record 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;

(2) “open loop gift certificate” shall mean a gift certificate redeemable at multiple, unaffiliated merchants or service providers; and

(3) “promotional gift certificate” shall mean a gift certificate issued for no consideration which includes on the front of the gift certificate (i) a statement indicating that the card is issued for promotional purposes and (ii) the expiration date for the underlying funds.

(b) Gift certificate shall not include (i) an electronic payment device linked to a deposit account or which is covered by the exclusion set forth in 15 U.S.C. section 1693 L-1(a)(2)(D)(ii), (ii) a fare payment card or electronic payment device used to pay for travel on a public transportation authority system, or (iii) prepaid telephone calling cards regulated under section 92-f of the public service law. Gift certificate also shall not include flexible spending arrangements as defined in section 106(c)(2) of the Internal Revenue Code, 26 U.S.C. section 106(c)(2); flexible spending accounts subject to Section 125 of the Internal Revenue Code, 26 U.S.C. section 125; Archer MSAs as defined in Section 220(d) of the Internal Revenue Code, 26 U.S.C. section 220(d); dependent care reimbursement accounts subject to section 129 of the Internal Revenue Code, 26 U.S.C. section 129; health savings accounts subject to section 223(d) of the Internal Revenue Code, 26 U.S.C. section 223(d), as amended by section 1201 of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003, Pub. L. No. 108-173; or similar accounts from which, under the Internal Revenue Code and its implementing regulations, individuals may pay medical expenses, health care expenses, dependent care expenses, or similar expenses on a pretax basis. Gift certificate also shall not include a prepaid discount card or program used to purchase identified goods or services at a price or percentage below the normal and customary price; provided that any expiration date of the prepaid discount card or program is clearly and conspicuously disclosed. Gift certificate also shall not include payroll cards or other electronic payment devices which are linked to a deposit account and which are given in exchange for goods or services rendered.

N.Y. General Business Law §396-i

1-a. No person, firm, partnership, association or corporation who or which issues gift certificates or store credits, or who or which conducts a “closing out sale” or “defunct business sale” as such terms are defined in section 581 of this chapter, of the merchandise of any such person, firm, partnership, association or corporation, shall refuse to accept such gift certificate or store credit in payment for goods or services used or bought for use primarily for personal, family or household purposes, including, but not limited to, goods or services advertised on sale or pursuant to a liquidation or close-out, provided that if the certificates or the terms of the store credits limit the period of time during which they may be used, they are presented for redemption before the expiration of such period of time.

2. No person, firm, partnership, association or corporation who or which issues gift certificates or store credits, or who or which conducts a “closing out sale” or “defunct business sale” as such terms are defined in section 581 of this chapter, shall in any manner restrict the holder of a gift certificate or store credit from electing use of such gift certificate or store credit in a manner not inconsistent with stated terms of such gift certificate or store credit, nor shall any person, firm, partnership, association or corporation who or which issues gift certificates or store credits, or who or which conducts a “closing out sale” or “defunct business sale” as such terms are defined in section 581 of this chapter, alter the term of a gift certificate or store credit after it has been issued.

5-a. It shall be unlawful for any person to sell or issue a gift certificate other than a promotional gift certificate where the underlying funds are subject to an expiration date, provided that a gift certificate may be subject to an expiration date which is not earlier than the later of nine years after the date on which the gift certificate was issued, or the date on which funds were last loaded. The terms of expiration of a gift certificate, if any, shall be clearly and conspicuously stated on such gift certificate.

N.Y. General Business Law §396-i

5. (a) No person, firm, partnership, association or corporation shall charge or assess, or sell or issue any gift certificate subject to, any activation fee, retroactive fee, redemption fee, service fee, dormancy fee, latency fee, administrative fee, handling fee, access fee, periodic fee, renewal fee, re-loading fee, or any other fee of any kind, other than an open loop gift certificate subject to an initial one-time activation or issuance fee reasonably related to the cost of the issuer issuing the open loop gift certificate and which shall in no event be in excess of $9.

(b) No person, firm, partnership, association or corporation shall sell a gift certificate that has a face value or balance that declines as a result of the passage of time or the dormancy of the gift certificate.

(c) For the purposes of this subdivision, “dormancy” shall mean non-use of a gift certificate. Use of a gift certificate shall include, but not be limited to, adding value, or purchases.

N.Y. General Business Law §396-i

5-b. A gift certificate, other than an open loop gift certificate or a promotional gift certificate, with a remaining value of less than $5 may be redeemed upon request for its cash value.

N.Y. Abandoned Property Law §1315

This section shall encompass the following miscellaneous unclaimed property not otherwise covered by any other section of law. Such property shall be paid or delivered to the state comptroller at such times and shall be accompanied by reports in such form as the state comptroller may prescribe. 1. Any unclaimed amount representing unredeemed gift certificates sold after Dec. 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, or held by any corporation (other than a public corporation), joint stock company, individual, association of two or more individuals, committee or business trust in this state, and which has remained unclaimed by the owner of such amount for five years, shall be deemed abandoned property

North Carolina

N.C. Gen. Stat. §66-67.5

(1) Gift card.--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, or a prepaid long-distance telephone service that is activated by a prepaid card that required dialing an access number or an access code in addition to dialing the phone number to which the user of the prepaid card seeks to connect.

(2) Maintenance fee.--Any fee that the owner of the gift card is subject to when the gift card is redeemed, including a service or inactivity fee.

N.C. Gen. Stat. §116B-52

(11) “Property” means (i) currency or tangible personal property held by a holder that is physically located in a safe deposit box or other safekeeping depository held by a financial institution within this state or (ii) a fixed and certain interest in intangible property or currency that is held, issued, or owed in the course of a holder's business, or by a government, governmental subdivision, agency, or instrumentality, and all income or increments therefrom. The term includes property that is referred to as or evidenced by:

b. Credit balance, customer's overpayment, gift certificate, security deposit, refund, credit memorandum, unpaid wage, unused ticket, mineral proceeds, or unidentified remittance.

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.

(d) Limitation.--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. §116B-53

(c) Property is presumed abandoned if it is unclaimed by the apparent owner during the time set forth below for the particular property:

(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% 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 §47-30.2-01

15. “Gift card” means a record that:

a. Is usable at:

(1) A single merchant; or

(2) A specified group of merchants;

b. Is prefunded before the record is used; and

c. Can be used for purchases of goods or services.

27. “Property” means tangible property described in section 47-30.2-08 or a fixed and certain interest in intangible property held, issued, or owed in the course of a holder's business or by a government, governmental subdivision, agency, or instrumentality.

b. The term does not include:

(4) A gift card.

N.D. Cent. Code §51-29-01

As used in this chapter, “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

A person may not limit the time for redemption of a gift certificate to a date before six years after the date of purchase of the gift certificate, place an expiration date on a gift certificate before six years after the date of purchase of the gift certificate, or include on a gift certificate any statement suggesting that an expiration or redemption date, except as permitted in this section, may apply to a gift certificate.

This section does not apply to a gift certificate distributed to a consumer pursuant to an awards, loyalty, or promotional program without any money or other thing of value being given in exchange for the gift certificate by the consumer. Any restriction or limitation on such gift certificate must be disclosed to the consumer, in writing, at the time the gift certificate is distributed to the consumer.

N.D. Cent. Code §51-29-02

A person may not charge additional monthly or annual service or maintenance fees on a gift certificate.

N.D. Cent. Code §47-30.2-01 et seq.

Excluded from the definition of property.

N. Mariana Islands

Not specified in statute

Ohio

Ohio Rev. Code Ann. §1349.61

(E) As used in this section:

(1) “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. “Gift card” does not include a prepaid calling card used to make telephone calls.

Ohio Rev. Code Ann. §1349.61

(A)(1) Subject to division (C) of this section, no person or entity shall sell a gift card to a purchaser containing an expiration date that is less than two years after the date the gift card is issued.

(B) A gift card sold without an expiration date is valid until redeemed or replaced with a new gift card.

(1) A gift card that is distributed by the issuer to a consumer pursuant to an awards, loyalty, or promotional program without any money or anything of value being given in exchange for the gift card by the consumer;

(2) A gift card that is sold below face value at a volume discount to employers or to nonprofit and charitable organizations for fundraising purposes, if the expiration date on that gift card is not more than 30 days after the date of sale;

(3) A gift card that is sold by a nonprofit or charitable organization for fundraising purposes;

(4) A gift card that an employer gives to an employee if use of the gift card is limited to the employer's business establishment, which may include a group of merchants that are affiliated with that business establishment;

(5) A gift certificate issued in accordance with section 1533.131 of the Revised Code that may be used to obtain hunting and fishing licenses, fur taker, special deer, and special wild turkey permits, and wetlands habitat stamps;

(6) A gift card that is usable with multiple, unaffiliated sellers of goods or services;

(7) A gift card that an employer issues to an employee in recognition of services performed by the employee.

Ohio Rev. Code Ann. §1349.61

(A)(2) No person or entity, within two years after a gift card is issued, 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.

(3) A gift card that is sold by a nonprofit or charitable organization for fundraising purposes;

(6) A gift card that is usable with multiple, unaffiliated sellers of goods or services;

(7) A gift card that an employer issues to an employee in recognition of services performed by the employee.

Ohio Rev. Code Ann. §169.01

(B)(2) “Unclaimed funds” does not include any of the following:

(d) Either of the following:

(i) Any credit or obligation due a retail customer that is represented by a gift certificate, gift card, merchandise credit, or merchandise credit card, redeemable only for goods or services, including gift cards issued by financial organizations or business associations;

(ii) Any electronic payment device that is issued by a financial organization or a business association that has no expiration date and meets all of the following conditions:

(I) It is purchased or loaded on a prepaid basis for the future purchase or delivery of goods or services.

(II) It is redeemable upon presentation to a single merchant or service provider or an affiliated group of merchants or service providers.

(III) It is not redeemable for cash in whole or in part.

(e) Any open-loop prepaid card that is issued by a financial organization or a business association for which the underlying funds do not expire. For purposes of division (B)(2)(e) of this section, “open-loop prepaid card” means an electronic payment device that meets all of the following conditions:

(i) It is purchased or loaded on a prepaid basis for the future purchase or delivery of any goods or services.

(ii) It can be used to purchase goods and services at multiple unaffiliated merchants or service providers.

(iii) It is not redeemable for cash in whole or in part.

Oklahoma

Okla. Stat. tit. 15, §796

As used in the Gift Certificate and Gift Card Disclosure Act:

1. “Gift card” shall mean 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;

2. “Gift certificate” shall mean 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 a 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

A. It is unlawful for any person or entity to sell a gift certificate or gift card whenever to a purchaser that contains any of the following:

1. An expiration date that expires less than 60 months from the date of purchase.

B. A gift certificate or gift card sold without an expiration date is valid until redeemed or replaced.

C. This section does not apply to any of the following gift certificates or gift cards issued on or after Nov. 1, 2005, provided the expiration date appears in capital letters in at least 10-point font on the front of the gift certificate or gift card:

1. Gift certificates or gift cards that are distributed by the issuer to a consumer pursuant to an awards, loyalty, or promotional program without any money being given in exchange for the gift certificate or gift card by the consumer;

2. Gift certificates or gift cards that are sold below face value at a volume discount to employers or to nonprofit and charitable organizations for fundraising purposes if the expiration date on those gift certificates or gift cards is not more than 30 days after the date of sale; and

3. Gift certificates or gift cards that are issued for a food product.

Okla. Stat. tit. 15, §797

A. It is unlawful for any person or entity to sell a gift certificate or gift card whenever to a purchaser that contains any of the following:

2. A service fee including, but not limited to, a service fee for dormancy, except as provided in subsection E of this section.

D. Paragraph 2 of subsection A of this section does not apply to a dormancy fee on a gift card or gift certificate that meets all of the following criteria:

1. The remaining value of the gift card or gift certificate is $5 or less each time the fee is assessed;

2. The fee does not exceed $1 per month;

3. There has been no activity on the gift card or gift certificate for 24 consecutive months including, but not limited to, purchases, the adding of value, or balance inquiries;

4. The holder may reload or add value to the gift card or gift certificate; and

5. A statement is printed on the gift card or gift certificate in at least 10-point font stating the amount of the fee, how often the fee will occur, that the fee is triggered by inactivity of the gift card or gift certificate, and at what point the fee will be charged. The statement may appear on the front or back of the gift card or gift certificate, but shall appear in a location where it is visible to any purchaser prior to the purchase thereof.

E. An issuer of gift certificates or gift cards may accept funds from one or more contributors toward the purchase of a gift certificate or gift card intended to be a gift for a recipient, provided that each contributor is provided with a full refund of the amount that person paid toward the purchase of the gift certificate or gift card upon the occurrence of all of the following:

1. The funds are contributed for the purpose of being redeemed by the recipient by purchasing a gift certificate or gift card;

2. The time in which the recipient may redeem the funds by purchasing a gift certificate or gift card is clearly disclosed in writing to the contributors and the recipient; and

3. The recipient does not redeem the funds within the time described in paragraph 2 of this subsection.

Okla. Stat. tit. 60, §651 et seq.

Gift certificates are not specifically included.

Oregon

Or. Rev. Stat. §646A.274

As used in ORS 646A.276 and 646A.278:

(1)(a) “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.

(b) “Gift card” does not mean prepaid telephone calling cards, prepaid commercial mobile radio services as defined in 47 C.F.R. 20.3, any gift card usable with more than one seller of goods or services or prepaid transportation cards.

Or. Rev. Stat. §646A.276

(1) Except as provided in subsection (2) of this section and ORS 646A.278, a person may not sell a gift card:

(a) That has an expiration date.

Or. Rev. Stat. §646A.278

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

(1) Except as provided in subsection (2) of this section and ORS 646A.278, a person may not sell a gift card:

(b) That has a face value that declines as a result of the passage of time or the lack of use of the card;

(c) That has a fee related to the card, including, but not limited to, an inactivity fee, a maintenance fee or a service fee;

Or. Rev. Stat. §646A.276

(1) Except as provided in subsection (2) of this section and ORS 646A.278, a person may not sell a gift card:

(d) 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

(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

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 institution 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

(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 holder.

The term shall not include debit cards linked to a deposit account or prepaid telephone calling cards. The term also shall not include flexible spending arrangements, including health reimbursement arrangements, as defined in section 106(c)(2) of the Internal Revenue Code of 1986 (Public Law 99-514, 26 U.S.C. § 106(c)(2)); flexible spending accounts subject to section 125 of the Internal Revenue Code of 1986; Archer MSAs as defined in section 220(d) of the Internal Revenue Code of 1986; dependent care reimbursement accounts subject to section 129 of the Internal Revenue Code of 1986; health savings accounts subject to section 223(d) of the Internal Revenue Code of 1986; or similar accounts from which, under the Internal Revenue Code of 1986 and its implementing regulations, individuals may pay medical expenses, health care expenses, dependent care expenses or similar expenses on a pretax basis.

“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.

The term shall not include general use prepaid cards or debit cards linked to a deposit account. The term also shall not include flexible spending arrangements, including health reimbursement arrangements, as defined in section 106(c)(2) of the Internal Revenue Code of 1986 (Public Law 99-514, 26 U.S.C. § 106(c)(2)); flexible spending accounts subject to section 125 of the Internal Revenue Code of 1986; Archer MSAs as defined in section 220(d) of the Internal Revenue Code of 1986; dependent care reimbursement accounts subject to section 129 of the Internal Revenue Code of 1986; health savings accounts subject to section 223(d) of the Internal Revenue Code of 1986; or similar accounts from which, under the Internal Revenue Code and its implementing regulations, individuals may pay medical expenses, health care expenses, dependent care expenses or similar expenses on a pretax basis.

“Gift certificate” shall mean a written promise which is:

(i) 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 post-sale 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.

The term shall not include general use prepaid cards.

Pa. Stat. tit. 72, §1301.6

The following property held or owing by a business association is presumed abandoned and unclaimed:

1. 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 after the minimum period specified in section 915(c) of the Consumer Credit Protection Act (Public Law 90-321, 15 U.S.C. section 1693l-1(c)), whichever occurs later, or for three 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 Ann. tit. 10, §4191

(f) Gift card.—Means a prepaid card that is not rechargeable and has a specific monetary consideration entailing an agreement entered into with the issuer so that the cardholder may use it any time he/she chooses to acquire goods or services, up to the specified amount. This term includes, but is not limited to a tangible card, an electronic card or similar instrument that contains a microprocessor chip, magnetic strip, or other data storage medium.

(g) Open loop gift card.—Means a gift card that may be used to acquire goods or services in different establishments, other than an affiliated group, where the brand (Visa, Master Card, American Express, etc.) is accepted.

(h) Rechargeable gift card.—Means a card, code, or other device that allows the cardholder to add funds after the initial purchase or issue, according to the terms and conditions thereof.

P.R. Code Ann. tit. 10, §4192

Gift cards may have an expiration date limiting the use of funds, which shall not be less than five years as of the date of issue. This expiration date shall be clearly stated in the card in order to be valid. Otherwise, it shall be understood that the card has no expiration date.

P.R. Code Ann. tit. 10, §4193

No gift card initial issue or activation fee, inactivity fee or maintenance fee with respect to a gift card shall be charged.

P.R. Code Ann. tit. 10, §4194

When the balance of a gift card is less than $5, the cardholder shall be entitled to redeem it for cash. The business for which the gift card was issued shall have the exclusive obligation to issue the reimbursement.

P.R. Code tit. 7, §2101 et seq.

Gift certificates are not specifically included.

Rhode Island

R.I. Gen. Laws §6-13-12

(a) “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: (1) 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; (2) A gift card, an electronic gift card, stored-value card or certificate; (3) A store card; (4) 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 (5) A similar record or card.

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 or to limit the time for the redemption of a gift certificate or to place an expiration date upon the gift certificate. No gift certificate or any agreement with respect to such gift certificate may contain language suggesting that an expiration date may apply to the gift certificate. Any person, firm, or corporation who or that shall violate the provisions of this section shall be punished by a fine of not more than $200.

R.I. Gen. Laws §6-13-12.1

Any gift certificate/card as defined in section 6-13-12 that has been donated for fundraising purposes shall be exempt from the provisions of section 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

Any person, firm, or corporation who or 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.

(b) Institutions may refund any unused portion of gift certificates that are issued by a state-chartered institution of higher education upon an individual's separation from the institution or otherwise apply such funds against such individual's account at said institution. If such an institution is unable to complete such a refund or application, the associated funds shall be treated as abandoned after a period to two years, and the institution shall escheat such funds to the office of the general treasurer unclaimed property fund.

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 §33-21.1-14

Pursuant to §6-13-12, gift certificates shall not be presumed to be abandoned.

A. Samoa

Statutes unavailable

South Carolina

S.C. Code Ann. §39-1-55

(A) As used in this section, “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) A person shall not issue or sell a gift certificate which provides that the certificate expires before the first anniversary of the date on which the certificate is issued or sold. However, a person may issue or sell a gift certificate which provides for an expiration date before the first anniversary of the date on which the certificate is issued or sold as long as the expiration date is on the front of the gift certificate in capitalized letters in at least 10-point font. A gift certificate that contains an expiration date which does not conform to this subsection expires on the first anniversary of the date on which the certificate is issued or sold.

S.C. Code Ann. §39-1-55

(C) A condition relating to the use of a gift certificate must be stated clearly on the certificate, the envelope, or covering of the certificate, or the receipt given to the purchaser of the certificate, if the condition provides that the certificate decreases in value over a period of time or that a fee is charged against the balance of the certificate after a certain period of time.

A gift certificate that does not state clearly a condition described by this subsection may be redeemed at any time for the original value of the certificate, less any amount charged against the balance of the certificate by the consumer.

S.C. Code Ann. §27-18-10 et seq.

Gift certificates are not specifically included.

South Dakota

S.D. Codified Laws Ann. §43-41B-1

(10) “Intangible property,” includes:

(ii) Credit balances, customer overpayments, gift certificates, security deposits, refunds, credit memos, unpaid wages, unused airline tickets, and unidentified remittances.

S.D. Codified Laws Ann. §43-41B-15

(a) 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.

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

(e) 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. §66-29-102

(9) “Gift card:”

(A) Means a stored-value card:

(i) The value of which does not expire;

(ii) That may be decreased in value only by redemption for merchandise, goods, or services; and

(iii) That, unless required by law, must not be redeemed for or converted into money or otherwise monetized by the issuer; and

(B) Includes a prepaid commercial mobile radio service, as that term is defined in 47 CFR 20.3

(24) “Property” means tangible property described in sections 66-29-109, 30-2-702, and 31-6-107 or a fixed and certain interest in intangible property held, issued, or owed in the course of a holder's business or by a government, governmental subdivision, agency, or instrumentality. “Property:”

(iv) A gift card.

Tenn. Code Ann. §47-18-127

(a) Subject to subsection (d), no person or entity shall sell a gift certificate to a purchaser containing an expiration date that is less than two years after the date the gift certificate is issued or shall charge a fee for the issuance of a gift certificate.

(c) A gift certificate or prepaid card, as defined in subsection (e), sold without an expiration date is valid until redeemed or replaced with a new gift certificate or prepaid card.

(d) Subsections (a) and (b) shall not apply to a gift certificate that is:

(1) Distributed by the issuer to a consumer pursuant to an awards, loyalty, or promotional program without any money or anything of value being given in exchange for the gift certificate by the consumer;

(2) Sold below face value at a volume discount to employers or given or sold below face value to nonprofit or charitable organizations for fundraising purposes;

(3) Sold by a nonprofit or charitable organization for fundraising purposes;

(4) Given to an employee by an employer, if use of the gift certificate is limited to the employer's business establishment, which may include a group of merchants that are affiliated with the business establishment; or

(5) Issued by an employer to an employee in recognition of services performed by the employee.

Tenn. Code Ann. §47-18-127

(b) No person or entity, within two years after a gift certificate is issued, shall charge service charges or fees relative to the gift certificate, including dormancy fees, latency fees, or administrative fees that have the effect of reducing the total amount for which the holder of the gift certificate may redeem the gift certificate.

(d) Subsections (a) and (b) shall not apply to a gift certificate that is:

(2) Sold below face value at a volume discount to employers or given or sold below face value to nonprofit or charitable organizations for fundraising purposes;

(3) Sold by a nonprofit or charitable organization for fundraising purposes;

(5) Issued by an employer to an employee in recognition of services performed by the employee.

Tenn. Code Ann. §66-29-105

Excluded from the definition of property.

Texas

Tex. Business & Commerce Code §604.001

In this chapter, “stored value card:”

(1) means a record, as defined by section 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

(2) includes a gift card or gift certificate.

Tex. Business & Commerce Code §604.002

This chapter does not apply to a stored value card that:

(1) is issued by:

(A) a financial institution acting as a financial agent of the United States or this state;

(B) a federally insured financial institution, as defined by Section 201.101, Finance Code, if the financial institution is primarily liable for the card as the issuing principal; or

(2) is issued as a prepaid calling card by a prepaid calling card company regulated under section 55.253, Utilities Code;

(3) is distributed by the issuer to a person under an awards, rewards, loyalty, incentive, rebate, or promotional program and is not issued or reloaded in exchange for money tendered by the cardholder;

(4) is sold below face value or donated to:

(A) an employee of the seller or issuer;

(B) a nonprofit or charitable organization; or

(5) does not expire and for which the seller does not charge a fee other than a fee described in section 604.051.

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. §604.103

A stored value card sold without the disclosure required by this subchapter of an expiration date or policy, fee, or other material restriction or contract term applicable to the card is valid until redeemed or replaced.

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 section 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. Business & Commerce Code Ann. §604.103

Tex. Business & Commerce Code Ann. §604.152

If a stored value card is redeemed in person to make a purchase and a balance of less than $2.50 remains following the redemption, at the consumer’s request the seller shall refund the balance of the card in cash to the consumer.

Tex. Property Code Ann. §72.1016

(a) This section applies to a stored value card, as defined by section 604.001, Business & Commerce Code, other than a card: (1) to which Chapter 604, Business & Commerce Code, does not apply by operation of section 604.002(1)(A) and (C) and section 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 section 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.

Tex. Property Code Ann. §72.130

Notwithstanding any other provision of this title except a provision of this section or Section 72.1016 relating to a money order or a stored value card, a holder of abandoned property shall preserve the property and may not at any time, by any procedure, including a deduction for service, maintenance, or other charge, transfer or convert to the profits or assets of the holder or otherwise reduce the value of the property.

Utah

Utah Code Ann. §67-4a-102

(16) (a) "Gift card" means a record that: (i) is usable at: (A) a single merchant; or (B) a specified group of merchants; (ii) is prefunded before the record is used; and (iii) can be used for purchases of goods or services.

(b) "Gift card" includes a prepaid commercial mobile radio service as defined in 47 C.F.R. Sec. 20.3.

(29) (c) “Property” does not include:

(vi) a gift card.

Utah Code Ann. §13-11-4

(2) Without limiting the scope of subsection (1), a supplier commits a deceptive act or practice if the supplier knowingly or intentionally:

(v) issues a gift certificate, instrument, or other record in exchange for payment to provide the bearer, upon presentation, goods or services in a specified amount without printing in a readable manner on the gift certificate, instrument, packaging, or record any expiration date or information concerning a fee to be charged and deducted from the balance of 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.

(c) Subsections (2)(v) and (4)(b) do 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

(2) Without limiting the scope of subsection (1), a supplier commits a deceptive act or practice if the supplier knowingly or intentionally:

Utah Code Ann. §13-11-4

(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.

Utah Code Ann. §67-4a-101

Excluded from the definition of property.

Vermont

Vt. Stat. Ann. tit. 8, §2701

(3) “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 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 prepaid access card or certificate; a store card; or a similar record or card. A gift certificate does not include an access device such as a debit card, code, or other means of access to a consumer's account regularly maintained at a financial institution or credit union that may be used by the consumer to access the funds in his or her account to initiate a withdrawal or to initiate an electronic funds transfer from the consumer's account.

(4) “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.

(5) “Paid value” means the value of any money or other thing of value given in exchange for a gift certificate.

(6) “Promotional value” means any value shown on a gift certificate in excess of the paid value of the gift certificate.

Vt. Stat. Ann. tit. 27, §1452

(11) “Gift card” means:

(A) a stored-value card:

(i) the value of which does not expire;

(ii) that may be decreased in value only by redemption for merchandise, goods, or services; and

(iii) that, unless required by law, may not be redeemed for or converted into money or otherwise monetized by the issuer; and

(B) includes a prepaid commercial mobile radio service, as defined in 47 C.F.R. section 20.3, as may be amended.

(24) “Property” means tangible property described in section 1465 of this title or a fixed and certain interest in intangible property held, issued, or owed in the course of a holder's business or by a government, governmental subdivision, agency, or instrumentality. The term:

(iv) a gift card.

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. The date of issuance and the expiration date shall be clearly identified on its face, 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 deemed to have no expiration date. Following the expiration date of the gift certificate, the unused portion of the paid value of the gift certificate shall be returned to the holder of the gift certificate, if requested.

Vt. Stat. Ann. tit. 8, §2702a

A loyalty, award, or promotional gift certificate shall clearly and legibly set forth the following disclosures, as applicable:

(1) a statement indicating that the gift certificate is issued for loyalty, award, or promotional purposes, which shall be included on the front of the gift certificate;

(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, §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, §2703

(a) Dormancy fees, latency fees, issuance fees, redemption fees, or any other administrative fees or service charges in connection with a gift certificate are prohibited.

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, §1251 et seq.

Excluded from the definition of property.

Virginia

Va. Code §55.1-2500

“Gift certificate” means a certificate, electronic card, or 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 an equal value.

“Intangible property” includes (i) moneys, checks, drafts, deposits, interest, and dividend income; (ii) credits, customer overpayments, gift certificates, security deposits, refunds, unpaid wages, and unidentified remittances; (iii) stocks and other intangible ownership interests in business associations; (iv) moneys deposited to redeem stocks, bonds, coupons, and other securities or to make distributions; (v) amounts due and payable under the terms of insurance policies; and (vi) amounts distributable from a trust or custodial fund established under a plan to provide any health, welfare, pension, vacation, severance, retirement, death, stock purchase, profit sharing, employee savings, supplemental unemployment insurance, or similar benefit.

Va. Code §59.1-530

As used in this chapter, unless the context clearly requires otherwise:

“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.

“Merchant” means an owner or operator of any mercantile establishment or any agent, employee, lessee, consignee, officer, director, franchisee, or independent contractor of such owner or operator.

Va. Code §59.1-531

A. 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.

C. The information required by this section shall be clearly and permanently imprinted on the certificate.

Va. Code §59.1-531

B. 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.

C. The information required by this section shall be clearly and permanently imprinted on the certificate.

Va. Code §55.1-1515

A. Except as described in subsection B, 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 such gift certificate or credit balance became payable is presumed abandoned.

B. The following property is exempt from the provisions of this chapter and shall not be assessed by the administrator as unclaimed property: (i) credit balances payable to a business association; (ii) outstanding checks resulting from or attributable to the sale of goods or services to a business association; (iii) promotional incentives; and (iv) credits, gift certificates, coupons, layaways, and similar items, provided that such credits, gift certificates, coupons, layaways, and similar items are redeemable in merchandise, in services, or through future purchases.

Virgin Islands

V.I. Code tit. 28, §652

(13) ‘Property‘ means tangible property described in section 654 or a fixed and certain interest in intangible property that is held, issued, or owed in the course of a holder's business, or by a government, governmental subdivision, agency, or instrumentality, and all income or increments therefrom. The term includes property that is referred to as or evidenced by:

(B) credit balance, customer's overpayment, gift certificate, security deposit, refund, credit memorandum, unpaid wage, unused ticket, mineral proceeds, or unidentified remittance.

V.I. Code tit. 28, §653

Property is presumed abandoned if it is unclaimed by the apparent owner three years after Dec. 31 of the year in which the certificate was cold, but if redeemable in merchandise only, the amount abandoned is deemed to be 60% of the certificates face value.

Washington

Wash. Rev. Code §19.240.010

The definitions in this section apply throughout this chapter unless the context clearly requires otherwise.

(1)(a) “Gift card” means a record as described in subsection (5)[(2)] 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.

(b) “Gift card” does not include prepaid telephone calling cards or prepaid commercial mobile radio services as defined in 47 C.F.R. 20.3.

(2)(a) “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.

(b) “Gift certificate” does not include prepaid telephone calling cards or prepaid commercial mobile radio services as defined in 47 C.F.R. 20.3.

(3) “Bearer” means a person with a right to receive consumer goods and services under the terms of a gift certificate, without regard to any fee, expiration date, or dormancy or inactivity charge.

(4) “Issue” means to sell or otherwise provide a gift certificate to any person, and includes reloading or adding value to an existing gift certificate.

(5) “Stored value” has the same meaning as the term “closed loop prepaid access” defined in RCW 19.230.010.

Wash. Rev. Code §63.30.010

(11) “Gift certificate” means a record described in RCW 19.240.010, and includes both gift cards and gift certificates, including both tangible instruments and electronic records.

(24) “Property” means tangible property described in RCW 63.30.080 or a fixed and certain interest in intangible property held, issued, or owed in the course of a holder's business or by a government, governmental subdivision, agency, or instrumentality. The term:

(iv) A gift certificate complying with chapter 19.240 RCW.

Wash. Rev. Code §19.240.020

(1) Except as provided in RCW 19.240.030, it is unlawful for any person or entity to issue, or to enforce against a bearer, a gift certificate that contains:

(a) An expiration date.

Wash. Rev. Code §19.240.030

(1) It is lawful to issue, and to enforce against the bearer, a gift certificate containing an expiration date if:

(a) The gift certificate is issued pursuant to an awards or loyalty program for the gift certificate.

(b) The gift certificate is donated to a charitable organization without any money or other thing of value being given in exchange for the gift certificate if the gift certificate is used by a charitable organization solely to provide charitable services.

(2) The expiration date must be disclosed clearly and legibly on any gift certificate described in subsection (1) of this section

Wash. Rev. Code §19.240.020

(1) Except as provided in RCW 19.240.030, it is unlawful for any person or entity to issue, or to enforce against a bearer, a gift certificate that contains:

(b) Any fee, including a service fee; or

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. A gift certificate is valid until redeemed or replaced.

Wash. Rev. Code §63.30.010 et seq.

Excluded from the definition of property.

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.

West Virginia

W. Va. Code §36-8-1

“Property” means tangible personal property described in section 3 of this article or a fixed and certain interest in intangible personal property that is held, issued, or owed in the course of a holder's business, or by a government, governmental subdivision, agency or instrumentality, and all income or increments therefrom. The term includes property that is referred to as or evidenced by:

Credit balance, customer's overpayment, gift certificate, security deposit, refund, credit memorandum, unpaid wage, unused ticket, mineral proceeds, or unidentified remittance.

W. Va. Code §36-8-2

(a) Property is presumed abandoned if it is unclaimed by the apparent owner during the time set forth below for the particular property:

(7) Gift certificate, three years after Dec. 31, of the year in which the certificate was sold, but if redeemable in merchandise only, the amount abandoned is deemed to be 60% of the certificate's face value.

Wisconsin

Wis. Stat. §177.01

(7d)(a) “Gift card” means a record evidencing a promise for consideration by the seller or issuer of the record that merchandise, goods, or services will be provided to the owner of the record equal to the value or amount shown in the record, if all of the following apply:

1. The value or amount does not expire.

2. The value or amount may be decreased only by redemption for merchandise, goods, or services.

3. The value or amount may not be redeemed for or converted into money or otherwise monetized by the issuer.

(b) “Gift card” includes the following:

1. A record that contains or consists of a microprocessor chip, magnetic strip, or other means for the storage of information, that is prefunded, and the value or amount of which is decreased on each use and increased by payment of additional consideration.

2. A prepaid commercial mobile radio service, as defined in 47 CFR 20.3, as amended.

1. A stored-value card.

2. A loyalty card.

3. A payroll card.

4. Game-related digital content.

5. A financial organization loyalty card.

(13b) (c) “Property” does not include the following:

5. A gift card.

Wis. Stat. §177.01 et seq.

Excluded from the definition of property.

Wyoming

Wyo. Stat. §34-24-102

(x) “Intangible property” includes:

(B) Credit balances, customer overpayments, gift certificates, merchant stored value cards, security deposits, refunds, credit memos, unpaid wages, unused airline tickets and unidentified remittances except balances represented on debit cards;

Wyo. Stat. §34-24-114

(a) Except as provided by subsection (e) of this section, a gift certificate, merchant stored value card or a credit memo is deemed abandoned if the balance remaining is greater than $100 and it remains unredeemed for more than five years after the later of its issuance date or the last activity by its owner, including partial use, or in the case of a merchant stored value card, an increase in the card balance purchased by the owner.

(b) In the case of a gift certificate or merchant stored value card, the amount deemed abandoned is the balance on the gift certificate or merchant stored value card as of the day of abandonment. In the case of a credit memo, the amount deemed abandoned is the amount credited as shown on the memo itself.

(c) The amount of a gift certificate, merchant stored value card or credit memo deemed abandoned is subject to the custody of this state in the following circumstances:

(i) The records of the issuer show that the last known address of the purchaser of the certificate, merchant stored value card or recipient of the memo is in this state;

(ii) Repealed by Laws 2015, ch. 127, section 2, eff. July 1, 2015.

(iii) The records of the issuer do not show the address of the purchaser or of the recipient and the issuer is a domiciliary of this state; or

(iv) The records of the issuer show that the address of the purchaser or recipient is in or is a state whose escheat or unclaimed property law does not provide for the escheat or custodial taking of gift certificates, merchant stored value cards and credit memos, and the issuer is a domiciliary of this state.

(d) Repealed by Laws 2015, ch. 127, section 2, eff. July 1, 2015.

(e) A gift certificate or merchant stored value card which has no expiration date and does not impose a fee of any kind in relation to the sale, redemption or replacement of the certificate or card, other than an initial charge not exceeding the face value of the certificate or card, is exempt from the requirements of this section.

(f) Repealed by Laws 2016, ch. 73, section 1, eff. July 1, 2016.

Expand All

Connecticut

H.B. 5564
This bill requires a gift card with a balance under $10 to be redeemed for cash at the card holder's request. The bill applies to any card, tangible object, or electronic record that (1) shows the issuer's agreement to provide goods or services of a certain value displayed on or retrieved from the card, object, or record; (2) includes a microprocessor chip, magnetic strip, or other way to store information; and (3) is prefunded with a value that decreases with each use. It does not apply to a general use prepaid card.

Michigan

H.B. 5590
Prohibits expiration within 10 years for gift cards and gift certificates.

H.B. 2793
This bill prohibits a pawnbroker from purchasing, pawning, receiving, selling or exchanging a gift card with a balance of more than $100 or with more than $300 in the aggregate from any individual within a 30 day period.

New Hampshire

S.B. 403
Passed Senate 3/3/16
This bill prohibits the sale of gift certificates with expiration dates if the face value of the certificate is $250 or less. The bill also excludes prepaid telecommunications and technology cards from the definition of gift certificate under the Consumer Protection Act.

New York

A.B. 1775
Relates to exemptions from sales and use taxes for gift certificates, electronic gift cards and magnetic gift cards.

A.B. 4872
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. 5030
Authorizes the commissioner of motor vehicles to establish gift cards for distinctive and special number license plates.

A.B. 7467
S.B. 3106
Directs the commissioner of environmental conservation to create gift cards for hunting and fishing licenses.

A.B. 7610
Relates to fees on gift cards and gift certificates issued by merchants for goods and services.

A.B. 8550
Requires that gift certificates, gift cards, or store credits have no expiration or diminution in value over time.

S.B. 4771
Relates to fees on gift cards and gift certificates.

S.B. 6898
Relates to gift certificates and gift cards; prohibits expiration dates and dormancy service fees in certain instances; and requires retailers to redeem card balances of $10 or less for cash at consumer's request.

S.B. 7327
Prohibits expiration dates on gift certificates.

Pennsylvania

H.B. 385
Includes selling or issuing a gift card or gift certificate as those terms are defined that contains an expiration date, a period of time after which the gift card or gift certificate expires or any type of postsale charge or fee, including, but not limited to, a service charge, dormancy fee or activation fee in the definition of an unfair trade practice.

S.B. 150
Provides that selling or issuing a gift card or gift certificate that contains an expiration date or any type of post-sale 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 is a prohibited unfair method of competition under the Unfair Trade Practices and Consumer Protection Law of 1976, as amended.

Tennessee

H.B. 156
S.B. 923
Requires that sales of gift cards be made person-to-person and requires nonrenewal and suspension of eligibility for reissuance of a violator's business tax license.

Virginia

H.B. 11
Prohibits a merchant issuing a gift certificate issued in the commonwealth from (i) charging a maintenance fee or inactivity fee on a gift certificate or (ii) issuing a gift certificate that automatically expires, diminishes in value, or otherwise becomes unredeemable. Gift certificates are required to include a telephone number or Internet address where the holder of the gift certificate may obtain information regarding its available balance. The measure applies to gift certificates issued on or after Jan. 1, 2017.

West Virginia

H.B. 4736
Adds §47-26-2a, relating to the pawn of gift cards; defines gift card; and limits the purchase pawn, receipt, sale or exchange of a gift card with a pawnbroker.

Wisconsin

A.B. 761
Failed to pass pursuant to Senate Joint Resolution 1 4/13/16
This bill regulates the sale and redemption of gift certificates, gift cards, and similar items (gift obligations). The bill prohibits the following: 1) failing to honor a valid gift obligation; 2) selling a gift obligation that is subject to an expiration date; 3) reducing the value of a gift obligation except for the sale price of goods or services provided to the bearer; and 4) reducing the value of a gift obligation as a condition of disclosing the value of the gift obligation. Under the bill, the prohibitions numbered 2) and 3) above do not apply to a gift obligation given or sold for less than face value to a nonprofit organization, a person who transfers the gift obligation to another person primarily for the benefit of a nonprofit organization, or to a gift obligation issued for no consideration. Also under the bill, if a person that owns a business intends to transfer ownership of the business or otherwise cease to operate the business, the person may not issue gift obligations that may be redeemed at the business unless the intended transferee agrees to honor gift obligations issued by the person. The provisions of the bill do not apply to certain state−chartered financial institutions to the extent that federal law preempts or prohibits the application of the provisions of the bill to certain federally chartered financial institutions. The Department of Agriculture, Trade and Consumer Protection or a district attorney may enforce the provisions of the bill by bringing an action for a civil penalty of up to $10,000. Also, the bill creates a private right of action in which a person may recover the greater of twice the person’s pecuniary loss or $200 for each violation.

Wyoming

H.B. 95
Signed by governor 3/4/16, Chapter 73
Relates to unclaimed property; removes the scheduled repeal date on provisions related to the abandonment of gift certificates, merchant store value cards and credit memos.

Connecticut

H.B. 6297
Failed Joint Favorable deadline 3/19/15
Prohibits any pawnbroker from purchasing, selling or trading gift certificates, as defined in §3-56a of the general statutes.

H.B. 6691
Failed Joint Favorable deadline 3/17/15
Requires that if a person uses a gift card to make a purchase of goods or services, the person accepting the gift card as payment, if requested by the purchaser, shall provide the purchaser with a cash refund equal to the value of the remaining balance on the gift card after the purchase.

H.B. 6811
Failed Joint Favorable deadline 3/17/15
Concerns cash refunds for gift card balances; allows a gift card holder to obtain a cash refund of the gift card balance if such balance is less than ten dollars after a purchase is made with the card.

New Jersey

A.B. 3480
Substituted 12/18/14
S.B. 2235
Signed by governor 2/5/15, Chapter
Eliminates consumer data collection requirements for certain gift cards.

New York

A.B. 1775
Relates to exemptions from sales and use taxes for gift certificates, electronic gift cards and magnetic gift cards.

A.B. 4872
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. 5030
Authorizes the commissioner of motor vehicles to establish gift cards for distinctive and special number license plates.

A.B. 7467
S.B. 3106
Passed Senate 6/15/15
Directs the commissioner of environmental conservation to create gift cards for hunting and fishing licenses.

A.B. 7610
Passed Assembly 6/16/15
Relates to fees on gift cards and gift certificates issued by merchants for goods and services.

A.B. 8550
Requires that gift certificates, gift cards, or store credits have no expiration or diminution in value over time.

S.B. 4771
Relates to fees on gift cards and gift certificates.

Oregon

H.B. 2543
Provides that unused gift cards become abandoned property. Provides that if an issuer of a gift card does not have an address for the owner of a gift card, the value of the gift card presumed abandoned is subject to custody of this state if purchase, issuance or last transaction by the owner of the gift card occurred in this state.

Pennsylvania

Puerto Rico

S.B. 371
Signed by governor 3/19/15, Act 31
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.

Tennessee

H.B. 156
S.B. 923
Requires that sales of gift cards be made person-to-person and requires nonrenewal and suspension of eligibility for reissuance of a violator's business tax license.

Texas

H.B. 2391
Became law without governor’s signature 6/17/15, Chapter 655
Amends the Business & Commerce Code to provide for a cash refund of the balance of certain stored value cards following an in-person redemption if the remaining balance is less than $2.50.

Washington

H.B. 1551
Passed House 3/10/15
S.B. 5543
Addresses unclaimed property law administration. The bill clarifies that gift certificates presumed abandoned and compliant with the gift certificate laws do not need to be reported as unclaimed property.

Wyoming

H.B. 42
Signed by governor 3/4/15, Chapter 127
Relates to unclaimed property; amends language to include merchant stored value cards; provides definitions; extends the period for abandonment of gift certificates, merchant stored value cards and credit memos; provides an exemption; repeals related provisions.

Connecticut

H.B. 5473
This bill requires a retailer accepting a gift card as payment for goods or services to provide a cash refund when the purchaser requests it and there is less than $1 remaining on the gift card after the purchase. Violators are subject to a fine of $100 for a first offense, $200 for a second offense, and $250 for each subsequent offense.

Hawaii

H.B. 2108
Requires an issuer of a gift card to hold in trust the moneys received in payment for the card.

Iowa

H.F. 2088
Withdrawn 2/25/14
Modifies unclaimed property provisions that apply to gift certificates. Current law includes gift certificates within the definition of “property” subject to the disposition of unclaimed property provisions of Code chapter 556. The bill provides that, notwithstanding provisions in Code §556.2 specifying that intangible personal property that remains unclaimed by the owner for more than three years after it became payable or distributable is presumed abandoned, a gift certificate that is not subject to an expiration date or subject to any form of late payment charge or other charge or service fee remains eligible for presentation for an indefinite period of time, and shall not be presumed abandoned.

H.F. 2296
Signed by governor 4/10/14, Chapter 1089
Provides that funds represented by a gift certificate balance that has not been presented within five years from the date of issuance of the gift certificate are presumed abandoned, except a gift certificate redeemable for merchandise only that is not subject to an expiration date and that is not subject to a deduction from the face value of the gift certificate for failure of the owner of the gift certificate to present the gift certificate in a timely manner, or subject to any other charge or service fee, which card remains unpresented, shall continue in force and be eligible for presentation for an indefinite period of time, and shall not be subject to a presumption of abandonment.

New Jersey

A.B. 2847
Provides that gift certificates and cards shall not expire or contain dormancy fees.

A.B. 3480
Substituted 12/18/14
S.B. 2235
Passed both houses 12/18/14
Eliminates consumer data collection requirements for certain gift cards.

New York

A.B. 1627
Vetoed by governor 12/17/14
S.B. 6574
Substituted 6/11/14
Directs the commissioner of Environmental Conservation to create gift cards for hunting and fishing licenses.

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

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

Puerto Rico

S.B. 371
Passed Senate 1/21/14
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.

Wyoming

H.B. 131
Withdrawn 2/13/14
Relates to unclaimed property; includes electronic gift cards in the definition of intangible property; extends the period for abandonment of gift certificates, electronic gift cards and credit memos.

Colorado

H.B. 1102
Signed by governor 3/15/13, Chapter 44
Specifies that the "Unclaimed Property Act" does not apply to unclaimed gift cards where the holder or issuer is a business association with annual gross receipts from the sales or issuance of all gift cards totaling $200,000 or less.

Connecticut

S.B. 912
Signed by governor 7/11/13, Public Act 13-254
This act establishes in law a “linked prepaid card” as a type of general-use prepaid card (i.e., card, code, or device) and specifies the conditions under which such a card may include an expiration date. Under the act, the card purchaser or person who increases or replenishes funds on the card (the customer) may: 1. get back the unused balance and the interest earned on the unused balance through a financial account linked to the card; 2. set an expiration date at least 90 days from the date of purchase or increasing or replenishing funds for the purpose of receiving a refund of any unused balance and any accrued interest on that balance; and 3. transfer the unused balance to a bank offering a higher yield and full insurance from the Federal Deposit Insurance Corporation until the funds are exhausted or the card expires, if the customer has a financial account linked to the card. The act also makes technical changes (1) in various references to federal regulations to reflect the federal transfer of certain consumer protection issues to the U. S. Consumer Financial Protection Bureau and (2) to specify that expired general-use prepaid cards are not replaced if the unused balance has been returned to the card holder.

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 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. 3008
Substituted 3/28/13
S.B. 2608
Signed by governor 3/29/13, Chapter 58
Authorizes the commissioner to establish gift cards for the licenses and bowhunting and muzzle-loading privileges set forth in §11-0701 of the Environmental Conservation Law title.

A.B. 4273
S.B. 2927
Passed Senate 4/22/13
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.

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.

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Summary Gift Cards and Gift Certificates Statutes and Legislation

Federal Statutes

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New Hampshire

New York

Pennsylvania

Tennessee

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West Virginia

Wisconsin

Wyoming

2015 State Legislation

New Jersey

New York

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Texas

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2014 State Legislation

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Colorado

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