NY S08780

Prohibits merchants from charging activation, monthly, redemption, service, dormancy, latency, administrative, handling, access, periodic, renewal, or re-loading fees on gift certificates, except open loop gift certificates may have a one-time activation or issuance fee not exceeding the lesser of four dollars or five percent of face value.

Prohibits gift certificates with face values or balances that decline due to passage of time or dormancy of the certificate.

Prohibits expiration dates on gift certificates other than promotional gift certificates; promotional gift certificates may have expiration dates if clearly and conspicuously stated on the certificate.

Requires gift certificates with remaining values less than five dollars to be redeemable for cash value upon request.

Requires clear and conspicuous disclosure of all terms and conditions on the gift certificate itself, packaging, or an accompanying document with a toll-free phone number for additional terms.