ESCHEAT AND GIFT CARD LAWS: NEVADA

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NEVADA

Definition of Gift Card/Gift Certificate:

Nev. Rev. Stat. §598.0921(3)

“Gift certificate” means an instrument or a record evidencing a promise by the seller or issuer of the instrument or record to provide goods or services to the holder of the gift certificate for the value shown in, upon or ascribed to the instrument or record and for which the value shown in, upon or ascribed to the instrument or record is decreased in an amount equal to the value of goods or services provided by the issuer or seller to the holder. The term includes, without limitation, a gift card, certificate or similar instrument.

Expiration Date Provision:

Nev. Rev. Stat. §598.0921(1)(a)

Expiration date or toll-free phone number to inquire regarding the balance and expiration date must be conspicuous.

Fee Provision:

Nev. Rev. Stat. §598.0921(1)(b)

Requires that a gift certificate cannot have a service fee, unless each of the following is printed plainly and conspicuously on the front or back of the gift certificate in at least 10-point font and in such a manner that the print is readily visible to the buyer of the gift certificate before the buyer purchases the gift certificate: (1) The amount of the service fee; (2) The event or events that will cause the service fee to be imposed; (3) The frequency with which the service fee will be imposed; and (4) If the service fee will be imposed on the basis of inactivity, the duration of inactivity, which must not be less than three continuous years of nonuse, that will cause the service fee to be imposed.

 

Nev. Rev. Stat. §598.0921(1)(c)

Regardless of the notice provided, (1) A service fee or a combination of service fees cannot exceed a total of $1 per month; or (2) A service fee cannot commence or be imposed within the first 12 months after the issuance of the gift certificate.

Escheat Provision:

Nev. Rev. Stat. §120A.520

Sixty percent of the unredeemed or uncharged value remaining on a gift certificate which is issued or sold in this state and which has an expiration date is presumed abandoned and subject to the provisions of this chapter on the expiration date. If a gift certificate is issued or sold in this state and the seller or issuer does not obtain and maintain in his records the name and address of the owner of the gift certificate, the address of the owner of the gift certificate shall be deemed to be the address of the office of the state treasurer in Carson City.

SOURCE: National Conference of State Legislatures


PLEASE NOTE:  Please note the summaries should be used for general informational purposes and not as a legal reference. DropZone Marketing is unable to answer questions or provide guidance to business owners regarding gift cards and gift certificate laws and practices. If you have questions regarding issuing or redeeming a gift card or gift certificate or a retailer’s practices, please contact the Office of the Attorney General in your state.

 

About James La Barrie

James La Barrie is passionate about marketing and changing a company's service culture. Originally from the Caribbean island of Antigua, James melds his approach of marketing and delivering elite service together as one. James has injected his 'service marketing' approach throughout his career to transform companies from good to great.

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