ESCHEAT AND GIFT CARD LAWS: LOUISIANA

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LOUISIANA

Definition of Gift Card/Gift Certificate:

La. Rev. Stat. Ann. §51:1423(A)

“Gift certificate” shall mean a writing identified as a gift certificate or gift card purchased by a buyer for use by a person not redeemable in cash and usable in its face amount in lieu of cash in exchange for goods or services supplied by the seller. A gift certificate or gift card shall include an electronic card with a banked dollar value, a merchandise credit, a certificate where the issuer has received payment for the full face value of the future purchase or delivery of goods or services and any other medium that evidences the giving of consideration in exchange for the right to redeem the certificate, electronic card or other medium for goods, food, services, credit or money of at least an equal value.

Expiration Date Provision:

La. Rev. Stat. Ann. §51:1423(B)(1)

An expiration date must be more than five years and conspicuous. A gift certificate sold without an expiration date shall be valid until redeemed or replaced.

Fee Provision:

La. Rev. Stat. Ann. §51:1423(B)(2)

Prohibits a service fee, including but not limited to a service fee for dormancy fee. However, nothing shall prevent the issuer from charging a one-time handling fee, which shall not exceed $1 per gift certificate.

Escheat Provision:

La. Rev. Stat. Ann. §9:151 et seq.
Gift certificate is presumed abandoned three years after Dec. 31 of the year it was sold.

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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