Walk It Through: The Old Gift Card
Funds that last at least nine years, no fees of any kind, and cash back under five dollars.
A shopper finds a store gift card from a few years back with an expiration date printed on it.
Two things a person in this spot might do. Picking one shows what the law says about it.
One store card. Promotional cards, open loop cards in any detail, and how the attorney general enforces the section are not worked through here.
A practice walkthrough, not a prediction of how any real one will go. Legal information, not legal advice.
Words this turns on
Terms with a legal meaning that is narrower than the everyday one. Each links to the definition and the authority behind it.
- Gift certificateA gift card or certificate whose funds, unless it is promotional, may not be subject to an expiration date earlier than nine years after it was issued or the funds were last loaded, whichever is later.
- IssueThe intestacy statute's word for a person's children and their descendants. When a person dies without a will survived by a spouse and issue, the spouse takes fifty thousand dollars and one-half of the rest, and the balance goes to the issue.
- Security depositA deposit or advance on a dwelling, which may not exceed one month's rent. Within fourteen days after the tenant moves out, the landlord gives an itemized statement of anything kept and returns the rest.