Senate Bill sb0022Cer

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    2007 Legislature                 CS for SB 22-C, 2nd Engrossed



  1                                 

  2         An act relating to the Department of

  3         Agriculture and Consumer Services; amending s.

  4         501.95, F.S., relating to gift certificates and

  5         credit memos; limiting application of

  6         prohibitions to purchased instruments;

  7         providing for enforcement by the department;

  8         providing for retroactive application;

  9         providing an effective date.

10  

11  Be It Enacted by the Legislature of the State of Florida:

12  

13         Section 1.  Section 501.95, Florida Statutes, is

14  amended to read:

15         501.95  Gift certificates and credit memos.--

16         (1)  As used in this section, the term:

17         (a)  "Credit memo" means a certificate, card, stored

18  value card, or similar instrument issued in exchange for

19  returned merchandise when the certificate, card, or similar

20  instrument is redeemable for merchandise, food, or services

21  regardless of whether any cash may be paid to the owner of the

22  certificate, card, or instrument as part of the redemption

23  transaction.

24         (b)  "Gift certificate" means a certificate, gift card,

25  stored value card, or similar instrument purchased issued in

26  exchange for monetary consideration when the certificate,

27  card, or similar instrument is redeemable for merchandise,

28  food, or services regardless of whether any cash may be paid

29  to the owner of the certificate, card, or instrument as part

30  of the redemption transaction, but this term shall not include

31  


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CODING: Words stricken are deletions; words underlined are additions.




    ENROLLED

    2007 Legislature                 CS for SB 22-C, 2nd Engrossed



 1  tickets as specified in s. 717.1355 or manufacturer or

 2  retailer discounts and coupons.

 3         (2)(a)  A gift certificate purchased or credit memo

 4  sold or issued for consideration in this state may not have an

 5  expiration date, expiration period, or any type of postsale

 6  charge or fee imposed on the gift certificate or credit memo,

 7  including, but not limited to, service charges, dormancy fees,

 8  account maintenance fees, or cash-out fees. However, a gift

 9  certificate may have an expiration date of not less than 3

10  years if it is provided as a charitable contribution when no

11  consideration is given to the issuer by the consumer, or not

12  less than 1 year if it is provided as a benefit pursuant to an

13  employee-incentive program, consumer-loyalty program, or

14  promotional program when no consideration is given to the

15  issuer by the consumer, and the expiration date is prominently

16  disclosed in writing to the consumer at the time it is

17  provided. In addition, a gift certificate may have an

18  expiration date if it is provided to the recipient, or to a

19  purchaser for transfer to the recipient, as part of a loyalty

20  or promotional program when the recipient does not pay a

21  separate identifiable charge for the certificate, or if it is

22  provided in conjunction with as part of a larger package

23  related to a convention, conference, vacation, or sporting or

24  fine arts event having a limited duration so long as the

25  majority of the value paid by the recipient is attributable to

26  the convention, conference, vacation, or event. An issuer may

27  honor a gift certificate that has expired on or before the

28  effective date of this act.

29         (b)  Paragraph (a) does not apply to a gift certificate

30  or credit memo sold or issued by a financial institution, as

31  defined in s. 655.005, or by a money transmitter, as defined


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    2007 Legislature                 CS for SB 22-C, 2nd Engrossed



 1  in s. 560.103, if the gift certificate or credit memo is

 2  redeemable by multiple unaffiliated merchants.

 3         (c)  Enforcement of this section shall be as provided

 4  in s. 501.142(3), (4), and (5) for violations of this section.

 5         Section 2.  Subsections (3), (4), and (5) of section

 6  501.142, Florida Statutes, read:

 7         501.142  Retail sales establishments; preemption;

 8  notice of refund policy; exceptions; penalty.--

 9         (3)  The department may enter an order doing one or

10  more of the following if the department finds that a person

11  has violated or is operating in violation of any of the

12  provisions of this section or the rules or orders issued under

13  this section:

14         (a)  Issue a notice of noncompliance pursuant to s.

15  120.695.

16         (b)  Impose an administrative fine not to exceed $100

17  for each violation.

18         (c)  Direct the person to cease and desist specified

19  activities.

20         (4)  The administrative proceedings that could result

21  in the entry of an order imposing any of the penalties

22  specified in subsection (3) are governed by chapter 120.

23         (5)  Any moneys recovered by the Department of

24  Agriculture and Consumer Services as a penalty under this

25  section shall be deposited in the General Inspection Trust

26  Fund.

27         Section 3.  The amendment to s. 501.95, Florida

28  Statutes, made by this act applies to all gift cards purchased

29  and credit memos issued on or after June 28, 2007.

30         Section 4.  This act shall take effect upon becoming a

31  law.


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