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FL S2164
Bill
Status
Failed
4/30/2010
Primary Sponsor
Lee Constantine
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AI Summary
- Gift certificates and credit memos purchased or issued in Florida cannot have expiration dates, expiration periods, or postsale charges such as service fees, dormancy fees, account maintenance fees, or cash-out fees
- Exceptions allow expiration dates for charitable contributions (minimum 3 years), employee-incentive programs (minimum 1 year), and loyalty/promotional programs or event-related certificates when prominently disclosed in writing
- Financial institutions and money services businesses are exempt if the gift certificate or credit memo is redeemable by multiple unaffiliated merchants
- Violations of gift certificate expiration date requirements are classified as deceptive and unfair trade practices under the Florida Deceptive and Unfair Trade Practices Act, subjecting violators to applicable penalties and remedies
- Effective date: July 1, 2010
Legislative Description
Gift Certificates and Similar Credit Items [CPSC]
Last Action
Died in Committee on Banking and Insurance
4/30/2010
Committee Referrals
Banking and Insurance3/1/2010
Full Bill Text
No bill text available