Section 760.250  Merchandise Credits

a)         Merchandise credits are exempt from being reported and remitted under the Act pursuant to Section 15-201(7) of the Act.

b)         This exemption includes, but is not limited to, a stored value card that is given as in-store credit for returned merchandise.

c)         However, the exemption for merchandise credits does not include stored value cards that:

1)         are redeemable at multiple, unaffiliated merchants; or

2)         may be redeemed for or converted into money or otherwise monetized by the issuer.