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Speaker Carl E. Heastie
 
     
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A05865 Summary:

BILL NOA05865
 
SAME ASNo Same As
 
SPONSORSteck
 
COSPNSR
 
MLTSPNSR
 
Amd §396-i, Gen Bus L
 
Relates to cash out requirements for certain prepaid gift cards.
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A05865 Text:




 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          5865
 
                               2025-2026 Regular Sessions
 
                   IN ASSEMBLY
 
                                    February 24, 2025
                                       ___________
 
        Introduced  by M. of A. STECK -- read once and referred to the Committee
          on Consumer Affairs and Protection
 
        AN ACT to amend the general  business  law,  in  relation  to  cash  out
          requirements for prepaid debit cards
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Subdivision 5-b of section 396-i of  the  general  business
     2  law,  as added by chapter 668 of the laws of 2021, is amended to read as
     3  follows:
     4    5-b. A gift certificate, other than [an open loop gift certificate or]
     5  a promotional gift certificate, with a  remaining  value  of  less  than
     6  [five] ten dollars may be redeemed upon request for its cash value.
     7    § 2. This act shall take effect immediately.
 
 
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD09659-02-5
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