Nevada Revised Statutes 120A.520 – Value remaining on gift certificate
Current as of: 2023 | Check for updates
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1. Sixty percent of the unredeemed or uncharged value remaining on a gift certificate which is issued or sold in this State is presumed abandoned and subject to the provisions of this chapter on the:
Terms Used In Nevada Revised Statutes 120A.520
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
(a) Expiration date; or
(b) Date on which the gift certificate is no longer honored by the issuer or seller.
2. This section does not create a cause of action against a person who issues or sells a gift certificate.