NY A07610

Prohibits retroactive fees and monthly service fees on gift certificate balances before the twenty-fifth month of dormancy.

Allows service fees after the twenty-fourth month of dormancy only if fees are waived and the certificate is replenished to its original value when presented within three years of issue.

Requires gift certificate expiration dates to be no earlier than five years after issuance or last fund loading, with clear disclosure on the certificate.

Exempts gift certificates sold below face value to employees, nonprofits, educational institutions for fundraising, or distributed through awards and loyalty programs without consumer consideration.

Takes effect ninety days after enactment and applies to gift certificates issued on or after that date.