§ 51-29-01 — Definition

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.