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2016 SESSION
16100567DBe it enacted by the General Assembly of Virginia:
1. That §§ 59.1-530 and 59.1-531 of the Code of Virginia are amended and reenacted and that the Code of Virginia is amended by adding a section numbered 59.1-530.1 as follows:
§ 59.1-530. Definitions.
As used in this chapter, unless the context clearly requires otherwise:
"Gift certificate" or "certificate" means a certificate, electronic card, or other medium issued in the Commonwealth by a merchant that evidences the giving of consideration in exchange for the right to redeem the certificate, electronic card, or other medium for goods, food, services, credit, or money of at least an equal value, including any electronic card issued by a merchant with a banked dollar value where the issuer has received payment for the full banked dollar value for the future purchase, or delivery, of goods or services and any certificate issued by a merchant where the issuer has received payment for the full face value of the certificate for future purchases, or delivery, of goods or services.
"Merchant" means an owner or operator of any mercantile establishment in the Commonwealth or any agent, employee, lessee, consignee, officer, director, franchisee, or independent contractor of such owner or operator.
§ 59.1-530.1. Prohibited practices.
A. A merchant shall not:
1. Charge a maintenance fee or inactivity fee on a gift certificate issued by the merchant; or
2. Issue a gift certificate that automatically expires, diminishes in value, or otherwise becomes unredeemable.
B. The provisions of subsection A shall not be construed to prohibit a merchant from charging a fee in connection with the sale of a gift certificate.
§ 59.1-531. Required disclosure of available balance.
A. Each gift certificate issued
by a merchant in the Commonwealth that has an expiration date shall include
either (i) a statement of the expiration date of the certificate or (ii) a
telephone number or Internet address where the holder of the certificate may
obtain information regarding the expiration date of the certificate.
B. Each gift
certificate issued by a merchant in the Commonwealth that
diminishes in value over time shall include a telephone
number or Internet address where the holder of the gift certificate
may obtain information regarding the diminution in available balance of the value
of the gift certificate over at any
time.
C. B. The
information required by this section subsection A shall be clearly
and permanently imprinted on the gift
certificate.
2. That the provisions of this act shall apply to gift certificates issued on or after January 1, 2017.