Text to be removed highlighted in red.
105:1 Consumer Protection Act; Acts Unlawful; Gift Certificates. Amend RSA 358-A:2, XIII to read as follows:
XIII. Selling gift certificates having a face value of $100 $250 or less to purchasers which contain expiration dates. Gift certificates having a face value in excess of $100 $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.
105:2 Definition of Gift Certificate. Amend RSA 358-A:1, IV-a to read as follows:
IV-a. "Gift certificate'' means a written promise given in exchange for payment to provide the bearer, upon presentation, goods or services in a specified amount.
105:3 Custody and Escheat of Unclaimed and Abandoned Property; Gift Certificates and Store Credits. Amend RSA 471-C:16 to read as follows:
471-C:16 Gift Certificates and Store Credits. Notwithstanding any law to the contrary, gift certificates of $100 $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 January 1, 1998 2018, and gift certificates and store credits that are properly determined to be reportable in any compliance audits initiated prior to January 1, 1998 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.
105:4 Effective Date. This act shall take effect January 1, 2018.
Approved: June 08, 2017
Effective Date: January 01, 2018
Text to be added highlighted in green.
105:1 Consumer Protection Act; Acts Unlawful; Gift Certificates. Amend RSA 358-A:2, XIII to read as follows:
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.
105:2 Definition of Gift Certificate. Amend RSA 358-A:1, IV-a to read as follows:
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.
105:3 Custody and Escheat of Unclaimed and Abandoned Property; Gift Certificates and Store Credits. Amend RSA 471-C:16 to read as follows:
471-C:16 Gift Certificates and Store Credits. 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 January 1, 2018, and gift certificates and store credits that are properly determined to be reportable in any compliance audits initiated prior to January 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.
105:4 Effective Date. This act shall take effect January 1, 2018.
Approved: June 08, 2017
Effective Date: January 01, 2018