(1)For purposes of this section, gift certificate or gift card means a certificate, electronic card, or other prefunded record 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 specified amount, (c) may or may not be increased in value or reloaded, (d) is purchased or loaded on a prepaid basis for the future purchase or delivery of any goods or services, and (e) is honored upon presentation.
(2)Except as provided in subsection (7) of this section, if any person, firm, partnership, association, limited liability company, corporation, or other business entity sells one or more gift certificates or gift cards to a purchaser, the seller s
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(1) For purposes of this section, gift certificate or gift card means a certificate, electronic card, or other prefunded record 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 specified amount, (c) may or may not be increased in value or reloaded, (d) is purchased or loaded on a prepaid basis for the future purchase or delivery of any goods or services, and (e) is honored upon presentation.
(2) Except as provided in subsection (7) of this section, if any person, firm, partnership, association, limited liability company, corporation, or other business entity sells one or more gift certificates or gift cards to a purchaser, the seller shall provide notice about the potential fraud to the purchaser.
(3) The Consumer Protection Division of the Office of the Attorney General shall release model notice language. Entities listed in subsection (2) of this section may use the model notice or a notice substantially in the same form to comply with such subsection.
(4) The notice required pursuant to subsection (2) of this section shall be provided conspicuously where gift certificates or gift cards are displayed or sold or at point of sale on an electronic payment system screen or in printed form.
(5) If the Attorney General has cause to believe this section has been violated, the Attorney General may provide a written citation to the violator. Any person, firm, partnership, association, limited liability company, corporation, or other business entity that receives more than one citation may be subject to a civil penalty of up to two hundred fifty dollars. The first written citation shall be considered a warning.
(6) Subsection (2) of this section does not apply to a person, firm, partnership, association, limited liability company, corporation, or other business entity which sells only gift cards redeemable for goods or services exclusively by the same person, firm, partnership, association, limited liability company, corporation, or other business entity.
(7) This section does not apply to a general-use, prepaid card issued by a financial institution as defined in section 8-101.03 in a predetermined amount, whether or not that amount can be increased or reloaded, which is usable at multiple unaffiliated sellers of goods or services, automatic teller machines, or both.