Provides that gift certificates and store credits shall not contain expiration dates, except in limited circumstances where they are issued for promotional purposes without value being given by the consumer; makes certificates or credit with an expiration date redeemable in cash or replaceable by a certificate or credit without an expiration date.
STATE OF NEW YORK
________________________________________________________________________
2984
2013-2014 Regular Sessions
IN ASSEMBLY
January 22, 2013
___________
Introduced by M. of A. ORTIZ, CLARK, MILLMAN, ROBINSON, COOK, O'DONNELL,
GALEF -- Multi-Sponsored by -- M. of A. CAHILL, FARRELL, GOTTFRIED,
HOOPER, JACOBS, MAGEE, PEOPLES-STOKES -- read once and referred to the
Committee on Consumer Affairs and Protection
AN ACT to amend the general business law, in relation to expiration of
gift certificates
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The general business law is amended by adding a new section
2 396-ii to read as follows:
3 § 396-ii. Gift certificates. 1. It shall be unlawful for any person,
4 firm, partnership, association or corporation to sell gift certificates
5 or issue store credits to a consumer containing an expiration date. Any
6 gift certificate sold or store credit issued after the effective date of
7 this section, which contains an expiration date, shall be redeemable in
8 cash for its cash value, or subject to replacement with a new gift
9 certificate at no cost to the consumer.
10 2. The provisions of this section shall not apply to gift certificates
11 or store credits distributed to a consumer for promotional purposes
12 without any money or other thing of value being given in exchange for
13 the gift certificate or issuance of store credits by the consumer.
14 § 2. This act shall take effect on the sixtieth day after it shall
15 have become a law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD06976-01-3
