Vermont Statutes Title 8 Sec. 2704
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Terms Used In Vermont Statutes Title 8 Sec. 2704
- 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
§ 2704. Redemption of gift certificate for cash
If the remaining value of a gift certificate is less than $1.00, the gift certificate shall be redeemable in cash for its remaining value upon the demand of the holder of the gift certificate. (Added 2005, No. 39, § 1.)