Bill Text: VA HB181 | 2010 | Regular Session | Prefiled
Bill Title: Gift cards; prohibits issuance of those that automatically expire as a result of passage of time.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced - Dead) 2010-02-04 - House: Tabled in Commerce and Labor by voice vote [HB181 Detail]
Download: Virginia-2010-HB181-Prefiled.html
10101708D Be it enacted by the General Assembly of Virginia: 1. That §59.1-530 of the Code of Virginia is amended and reenacted and that the Code of Virginia is amended by adding a section numbered 59.1-530.1 as follows: §59.1-530. Definitions. As used in this chapter, unless the context clearly requires otherwise: "Gift card" means a gift certificate that (i) is in the form of a card that contains a microprocessor chip, magnetic strip, or other electronic storage medium, (ii) is prefunded to a certain value, and (iii) provides for an adjustment in the value thereof upon each use. "Gift certificate" or "certificate" means
a certificate "Issuer" means the person issuing a gift card. "Merchant" means an owner or operator of any mercantile establishment or any agent, employee, lessee, consignee, officer, director, franchisee, or independent contractor of such owner or operator. §59.1-530.1. Gift card expiration prohibited. An issuer shall not issue a gift card in the Commonwealth that automatically as a result of the passage of a period of time following its purchase or activation (i) expires, (ii) diminishes in value by the assessment of a maintenance fee or inactivity fee, or (iii) otherwise becomes unredeemable. |