CT SB01078

General-use prepaid cards cannot include expiration dates on the underlying funds, though the card itself may expire if specific disclosures are provided.

Issuers must disclose in writing near the expiration date that funds do not expire and provide a toll-free number and website address for obtaining replacement cards.

No fees may be charged for replacing expired cards or transferring remaining balances, provided the card has not been lost or stolen.

Sellers must establish policies to provide consumers a reasonable opportunity to purchase cards with at least five years remaining before expiration.

General-use prepaid cards are exempted from gift certificate regulations under Connecticut law, effective October 1, 2011.