§ 14-4901

Maryland § 14-4901

• Jurisdiction: Maryland
• Article gcl: Commercial Law
• Title: 14

Text

(a) In this subtitle the following words have the meanings indicated.

(b) “Closed–loop gift card” means a card, code, or device that is:

(1) Issued to a consumer on a prepaid basis primarily for personal, family, or household purposes in a specified amount, regardless of whether that amount may be increased or reloaded in exchange for payment; and

(2) Redeemable on presentation by a consumer at a single merchant or a group of affiliated merchants.

(c) “Division” has the meaning stated in § 13–101 of this article.

(d) “Merchant” has the meaning stated in § 13–101 of this article.

(e) “Open–loop gift card” means a card, code, or device that is:

(1) Issued to a consumer on a prepaid basis primarily for personal, family, or household purposes in a specified amount, regardless of whether that amount may be increased or reloaded in exchange for payment;

(2) Payment card network branded; and

(3) (i) Redeemable on presentation at multiple unaffiliated merchants for goods or services within the payment card network; or

(ii) Usable at an automated teller machine.

(f) “Third–party gift card reseller” means a merchant who, without authorization from or affiliation with the business entity issuing an open– or a closed–loop gift card, is engaged in the business of:

(1) Buying open– or closed–loop gift cards on behalf of consumers; or

(2) Reselling open– or closed–loop gift cards to consumers.