Vermont Statutes Title 8 Sec. 2703
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Vermont Statutes Title 8 Sec. 2703
- Fees: shall mean earnings due for official services, aside from salaries or per diem compensation. See
- Financial institution: means an institution as defined in subdivision 11101(32) of this title. See
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
§ 2703. Prohibited fees
(a) Dormancy fees, latency fees, issuance fees, redemption fees, or any other administrative fees or service charges in connection with a gift certificate are prohibited.
(b) Notwithstanding subsection (a) of this section, a money transmitter licensed under chapter 79 of this title, financial institution, or credit union may charge a one-time fee upon the issuance of a prepaid access card that is reasonably related to the cost to the issuer of issuing the card, provided that in no event shall the fee exceed $10.00. (Added 2005, No. 39, § 1; amended 2019, No. 20, § 65; 2019, No. 103 (Adj. Sess.), § 11.)