Bill Text: NY A01057 | 2011-2012 | General Assembly | Introduced

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Bill Title: Provides that gift certificates and store credits shall not contain expiration dates, except in limited circumstances where they are issued for promotional purposes without value being given by the consumer; makes certificates or credit with an expiration date redeemable in cash or replaceable by a certificate or credit without an expiration date.

Spectrum: Partisan Bill (Democrat 17-0)

Status: (Introduced - Dead) 2012-05-31 - held for consideration in consumer affairs and protection [A01057 Detail]

Download: New_York-2011-A01057-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         1057
                              2011-2012 Regular Sessions
                                 I N  A S S E M B L Y
                                      (PREFILED)
                                    January 5, 2011
                                      ___________
       Introduced by M. of A. ORTIZ, CLARK, MILLMAN, McENENY, P. RIVERA, ROBIN-
         SON,  COOK, O'DONNELL, GALEF -- Multi-Sponsored by -- M. of A. CAHILL,
         FARRELL, GOTTFRIED, HOOPER, JACOBS, MAGEE,  MAYERSOHN,  PEOPLES-STOKES
         --  read  once  and  referred to the Committee on Consumer Affairs and
         Protection
       AN ACT to amend the general business law, in relation to  expiration  of
         gift certificates
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. The general business law is amended by adding a new section
    2  396-ii to read as follows:
    3    S 396-II. GIFT CERTIFICATES. 1. IT SHALL BE UNLAWFUL FOR  ANY  PERSON,
    4  FIRM,  PARTNERSHIP, ASSOCIATION OR CORPORATION TO SELL GIFT CERTIFICATES
    5  OR ISSUE STORE CREDITS TO A CONSUMER CONTAINING AN EXPIRATION DATE.  ANY
    6  GIFT CERTIFICATE SOLD OR STORE CREDIT ISSUED AFTER THE EFFECTIVE DATE OF
    7  THIS  SECTION, WHICH CONTAINS AN EXPIRATION DATE, SHALL BE REDEEMABLE IN
    8  CASH FOR ITS CASH VALUE, OR SUBJECT  TO  REPLACEMENT  WITH  A  NEW  GIFT
    9  CERTIFICATE AT NO COST TO THE CONSUMER.
   10    2. THE PROVISIONS OF THIS SECTION SHALL NOT APPLY TO GIFT CERTIFICATES
   11  OR  STORE  CREDITS  DISTRIBUTED  TO  A CONSUMER FOR PROMOTIONAL PURPOSES
   12  WITHOUT ANY MONEY OR OTHER THING OF VALUE BEING GIVEN  IN  EXCHANGE  FOR
   13  THE GIFT CERTIFICATE OR ISSUANCE OF STORE CREDITS BY THE CONSUMER.
   14    S  2.  This  act  shall take effect on the sixtieth day after it shall
   15  have become a law.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD04522-01-1