3rd Sub.
S.B.
270
GIFT CARD AMENDMENTS
house floor
Amendments
Amendment 2 March 12, 2009 10:05 am
Representative Kevin S. Garn
proposes the following amendments:
1. Page
1, Line 1
:
1
GIFT CARD
OR DOCUMENT
AMENDMENTS
2. Page
5, Lines 121 through 123
:
121
(ii) a credit [balances] balance, a customer [overpayments] payment,
{
a gift [certificates]
122
certificate over $25,
}
a security [deposits] deposit, [refunds] a refund,
{
a credit [memos] memo,
}
123
unpaid wages, an unused airline [tickets] ticket, and an unidentified [remittances] remittance;
3. Page
7, Line 191 through Page 8, Line 229
:
191
{
(1) As used in this section:
192
(a) "Purchaser" means a person who purchases:
193
(i) a gift certificate; or
194
(ii) a gift card that is not excluded from this chapter under Subsection (5).
195
(b) "Recipient" means a person who receives a credit memo.
196
[(1)] (2)
}
[A gift certificate greater than $25 or a credit memo]
{
The
}
Notwithstanding that
one or more of the
following
{
that
197
remains
}
remain
unreconsidered
{
for more than five years after issuance is
}
, it may not
be
considered abandoned
for purposes of this chapter
[.]:
198
{
(a)
}
(1)
a gift certificate
{
greater than $25
}
;
199
{
(b)
}
(2)
a gift card
{
that:
200
(i) has attached to it more than $25; and
201
(ii) is not excluded from this chapter under Subsection (5)
}
; or
202
{
(c)
}
(3)
a credit memo.
203
{
[(2)] (3) (a) In the case of a gift certificate, the amount considered abandoned under
204
this section is the price paid for the gift certificate itself.
205
(b) In the case of a gift card described in Subsection (2)(b), the amount considered
206
abandoned under this section is the amount of money attached to the gift card at the time the
207
gift card is considered abandoned.
208
[(b)] (c) In the case of a credit memo, the amount considered abandoned under this
209
section is the amount credited as shown on the credit memo itself.
210
[(3)] (4) The amount of a gift certificate, gift card described in Subsection (2)(b), or
211
credit memo considered abandoned is subject to the custody of this state when the records of
212
the issuer:
213
(a) [the records of the issuer] show that the last-known address of the purchaser [of the
214
certificate] or recipient [of the memo] is in Utah;
215
(b) [the records of the issuer] do not show the address of the purchaser or recipient, but
216
do show that the gift certificate or credit memo was issued in Utah;
217
(c) [the records of the issuer] do not show the address of the purchaser or of the
218
recipient and do not show the state where the gift certificate, gift card, or credit memo was
219
issued, but the issuer is domiciled in Utah; or
220
(d) [the records of the issuer] show that the state contained in the address of the
221
purchaser or recipient, or if none, the state where the gift certificate, gift card, or credit memo
222
was issued, is a state whose escheat or unclaimed property law does not provide for the escheat
223
or custodial taking of a gift [certificates and] certificate, gift card, or a credit [memos] memo,
224
and the issuer is domiciled in Utah.
225
(5) This chapter does not apply to a gift card if the monies attached to the gift card:
226
(a) do not expire; and
227
(b) are not subject to a monthly post sale:
228
(i) maintenance fee or charge; or
229
(ii) dormancy fee or charge.
}
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