South Dakota § 43-41B-43 Certain gift certificates and closed-loop prepaid cards exempt.

South Dakota Statutes

§ 43-41B-43 — Certain gift certificates and closed-loop prepaid cards exempt.

South Dakota § 43-41B-43

Title 43PROPERTY

Ch. 43-41AUNIFORM UNCLAIMED PROPERTY ACT

This text of South Dakota § 43-41B-43 (Certain gift certificates and closed-loop prepaid cards exempt.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 43-41B-43 (2026).

Text

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.

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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.