FIRST REGULAR SESSION
94TH GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVES BRUNS (Sponsor), ROBB, DAY, SCHAD, WELLS, SCHAAF, BIVINS, SATER, MEADOWS, MOORE, CORCORAN, WALLACE AND SANDER (Co-sponsors).
Read 1st time January 9, 2007 and copies ordered printed.
D. ADAM CRUMBLISS, Chief Clerk
AN ACT
To amend chapter 407, RSMo, by adding thereto one new section relating to gift certificates, with penalty provisions.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Chapter 407, RSMo, is amended by adding thereto one new section, to be known as section 407.1175, to read as follows:
407.1175. 1. For the purposes of this section, the term "gift certificate" shall mean any tangible record evidencing a promise by the seller or issuer of the record that goods or services will be provided to the owner of the record to the value shown in the record. Gift certificate shall include, but is not limited to, a gift card, stored-valued card, store card, or a similar record or card that contains a microprocessor chip, magnetic stripe, or other means for the storage of information, and for which that value is decreased upon each use. The term "gift certificate" shall not include:
(1) Certificates distributed to a consumer pursuant to an awards, loyalty, or promotional program without any money or other thing of value being given in exchange for the certificate by the consumer; and
(2) Certificates sold below face value at a volume discount to employers or to nonprofit and charitable organizations for fundraising purposes and whose expiration dates are not less than thirty days after the date of the sale.
2. It shall be unlawful for any person or business entity to sell a gift certificate that is subject to an expiration date or a service fee of any kind, including, but not limited to, a service fee for dormancy.
3. Violations of this section shall be considered unfair merchandising practices subject to the penalties in section 407.020.
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