Full Text of SB2901 93rd General Assembly
SB2901eng 93RD GENERAL ASSEMBLY
|
|
|
SB2901 Engrossed |
|
LRB093 20997 RXD 47002 b |
|
| 1 |
| AN ACT concerning business transactions.
| 2 |
| Be it enacted by the People of the State of Illinois,
| 3 |
| represented in the General Assembly:
| 4 |
| Section 5. The Uniform Disposition of Unclaimed Property | 5 |
| Act is amended by changing Section 10.6 as follows:
| 6 |
| (765 ILCS 1025/10.6)
| 7 |
| Sec. 10.6. Gift certificates and gift cards.
| 8 |
| (a) This Act applies to a gift certificate or gift card | 9 |
| only if:
| 10 |
| (i) the gift certificate or gift card contains an | 11 |
| expiration date ,
or
expiration period or any type of | 12 |
| post-sale charge or fee including but not limited to | 13 |
| service charges, dormancy fees, account maintenance fees, | 14 |
| cash-out fees, replacement card fees, and activation or | 15 |
| reactivation charges ; and
| 16 |
| (ii) none of the exceptions in this Section apply.
| 17 |
| (b) This Act does not apply to a gift certificate or gift | 18 |
| card that
contains an expiration date or expiration period , or | 19 |
| any type of post-sale charge or fee including but not limited | 20 |
| to service charges, dormancy fees, account maintenance fees, | 21 |
| cash-out fees, replacement card fees, and activation or | 22 |
| reactivation charges if:
| 23 |
| (i) the gift certificate or gift card was issued before | 24 |
| the effective
date of this amendatory Act of the 92nd | 25 |
| General Assembly; and
| 26 |
| (ii) it is the policy and practice of the issuer of the | 27 |
| gift
certificate or gift card to honor the gift certificate | 28 |
| or gift card after its
expiration date or the end of its | 29 |
| expiration period or after any type of post-sale charge or | 30 |
| fee is assessed and the issuer posts
written notice of the | 31 |
| policy and practice at locations at which the
issuer sells | 32 |
| gift certificates or gift cards. The written notice shall |
|
|
|
SB2901 Engrossed |
- 2 - |
LRB093 20997 RXD 47002 b |
|
| 1 |
| be
an original or a copy of a notice that the State | 2 |
| Treasurer shall produce
and provide to issuers free of | 3 |
| charge.
| 4 |
| (c) Nothing in this Section applies to a gift certificate | 5 |
| or gift card if
the value of the gift certificate or gift card | 6 |
| was reported and remitted under
this Act before the effective | 7 |
| date of this amendatory Act of the 92nd General
Assembly.
| 8 |
| (Source: P.A. 92-487, eff. 8-23-01.)
| 9 |
| Section 10. The Consumer Fraud and Deceptive Business | 10 |
| Practices Act is amended by adding Section 2QQ as follows: | 11 |
| (815 ILCS 505/2QQ new) | 12 |
| Sec. 2QQ. Gift certificates. | 13 |
| (a) "Gift certificate" means a record evidencing a promise, | 14 |
| made for consideration, by the seller or issuer of the record | 15 |
| that goods or services will be provided to the holder of the | 16 |
| record for the value shown in the record and includes, but is | 17 |
| not limited to, a record that contains a microprocessor chip, | 18 |
| magnetic stripe or other means for the storage of information | 19 |
| that is prefunded and for which the value is decremented upon | 20 |
| each use, a gift card, an electronic gift card, stored-value | 21 |
| card or certificate, a store card or a similar record or card. | 22 |
| For purposes of this Act, the terms, "gift certificate" and | 23 |
| "gift card" do not include any of the following: | 24 |
| (i) prepaid telecommunications and technology cards | 25 |
| including, but not limited
to, prepaid telephone calling | 26 |
| cards, prepaid technical support cards, and prepaid | 27 |
| Internet disks that are distributed to or purchased by a | 28 |
| consumer; | 29 |
| (ii) prepaid telecommunications and technology cards | 30 |
| including, but not
limited to, prepaid telephone calling | 31 |
| cards, prepaid technical support cards, and prepaid | 32 |
| Internet disks that are provided to a consumer pursuant to | 33 |
| any award, loyalty, or promotion program without any money | 34 |
| or other thing of value being given in exchange for the |
|
|
|
SB2901 Engrossed |
- 3 - |
LRB093 20997 RXD 47002 b |
|
| 1 |
| card; or | 2 |
| (iii) any gift card usable with multiple sellers of | 3 |
| goods or services. | 4 |
| (b) Any gift certificate subject to a fee must contain a | 5 |
| statement clearly and conspicuously printed on the gift card | 6 |
| stating whether there is a fee, the amount of the fee, how | 7 |
| often the fee will occur, that the fee is triggered by | 8 |
| inactivity of the gift card, and at what point the fee will be | 9 |
| charged. The statement may appear on the front or back of the | 10 |
| gift card in a location where it is visible to any purchaser | 11 |
| prior to the purchase. | 12 |
| (c) Any gift certificate subject to an expiration date must | 13 |
| contain a statement clearly and conspicuously printed on the | 14 |
| gift card stating the expiration date. The statement may appear | 15 |
| on the front or back of the gift card in a location where it is | 16 |
| visible to any purchaser prior to the purchase. | 17 |
| (d) Subsection (c) does not apply to any gift cards that | 18 |
| contain a toll free phone number and a statement clearly and | 19 |
| conspicuously printed on the gift card stating that holders can | 20 |
| call the toll free number to find out the balance on the gift | 21 |
| card, if applicable, and the expiration date. The toll free | 22 |
| number and statement may appear on the front or back of the | 23 |
| gift card in a location where it is visible to any purchaser | 24 |
| prior to the purchase. | 25 |
| (e) This Section does not apply to any of the following | 26 |
| gift certificates: | 27 |
| (i) Gift certificates that are distributed by the | 28 |
| issuer to a consumer pursuant to an
awards, loyalty, or | 29 |
| promotional program without any money or thing of value | 30 |
| being given in exchange for the gift certificate by the | 31 |
| consumer. | 32 |
| (ii) Gift certificates that are sold below face value | 33 |
| at a volume discount to employers or to nonprofit and | 34 |
| charitable organizations for fundraising purposes if the | 35 |
| expiration date on those gift certificates is not more than | 36 |
| 30 days after the date of sale. |
|
|
|
SB2901 Engrossed |
- 4 - |
LRB093 20997 RXD 47002 b |
|
| 1 |
| (iii) Gift certificates that are issued for a food | 2 |
| product.
|
|