Vermont Statutes Title 8 Sec. 2702a
Terms Used In Vermont Statutes Title 8 Sec. 2702a
- Fees: shall mean earnings due for official services, aside from salaries or per diem compensation. See
- following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- gift certificate: includes a record that contains a microprocessor chip, magnetic strip, or other means for the storage of information that is prefunded and for which the value is decremented upon each use; a gift card; an electronic gift card; a prepaid access card or certificate; a store card; or a similar record or card. See
- Paid value: means the value of any money or other thing of value given in exchange for a gift certificate. See
- Promotional value: means any value shown on a gift certificate in excess of the paid value of the gift certificate. See
§ 2702a. Loyalty, award, or promotional gift certificate
A loyalty, award, or promotional gift certificate shall clearly and legibly set forth the following disclosures, as applicable:
(1) a statement indicating that the gift certificate is issued for loyalty, award, or promotional purposes, which shall be included on the front of the gift certificate;
(2) the expiration date for both the paid value of the gift certificate, if any, and the promotional value of the gift certificate, if any, which shall be included on the front of the gift certificate;
(3) the amount of any fees that may be imposed in connection with the gift certificate and the conditions under which they may be imposed, which shall be provided on or with the gift certificate; and
(4) if any fee is assessed against the gift certificate, a toll-free telephone number and, if one is maintained, a website address that a consumer may use to obtain fee information, which shall be included on the gift certificate. (Added 2011, No. 136 (Adj. Sess.), § 7, eff. May 18, 2012.)