§ 34-24-114 — Gift certificates, merchant stored value cards and credit memos

Wyoming § 34-24-114

• Jurisdiction: Wyoming
• Title 34: Property, Conveyances and Security Transactions
• Ch. 24: UNIFORM UNCLAIMED PROPERTY ACT

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(a) Except as provided by subsection (e) of this section,
a gift certificate, merchant stored value card or a credit memo
is deemed abandoned if the balance remaining is greater than one
hundred dollars ($100.00) and it remains unredeemed for more
than five (5) years after the later of its issuance date or the
last activity by its owner, including partial use, or in the
case of a merchant stored value card, an increase in the card
balance purchased by the owner.
(b) In the case of a gift certificate or merchant stored
value card, the amount deemed abandoned is the balance on the
gift certificate or merchant stored value card as of the day of
abandonment. In the case of a credit memo, the amount deemed
abandoned is the amount credited as shown on the memo itself.
(c) The amount of a gift certificate, merchant stored
value card or credit memo deemed abandoned is subject to the
custody of this state in the following circumstances:
(i) The records of the issuer show that the last
known address of the purchaser of the certificate, merchant
stored value card or recipient of the memo is in this state;
(ii) Repealed by Laws 2015, ch. 127, § 2.
(iii) The records of the issuer do not show the
address of the purchaser or of the recipient and the issuer is a
domiciliary of this state; or
(iv) The records of the issuer show that the address
of the purchaser or recipient is in or is a state whose escheat
or unclaimed property law does not provide for the escheat or
custodial taking of gift certificates, merchant stored value
cards and credit memos, and the issuer is a domiciliary of this
state.
(d) Repealed by Laws 2015, ch. 127, § 2.
(e) A gift certificate or merchant stored value card which
has no expiration date and does not impose a fee of any kind in
relation to the sale, redemption or replacement of the
certificate or card, other than an initial charge not exceeding
the face value of the certificate or card, is exempt from the
requirements of this section.
(f) Repealed by Laws 2016, ch. 73, § 1.