ESCHEAT AND GIFT CARD LAWS: KENTUCKY

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KENTUCKY

Definition of Gift Card/Gift Certificate:

Ky. Rev. Stat. §367.890(1)

“Gift card,” as used in this section, means a certificate, electronic card, or other medium issued by a merchant 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. “Gift card” includes any electronic card issued by a merchant with a monetary value where the issuer has received payment for the full monetary value for the future purchase or delivery of goods or services and any certificate issued by a merchant where the issuer has received payment for the full monetary face value of the certificate for the future purchase or delivery of goods and services.

Expiration Date Provision:

Ky. Rev. Stat. §367.890

A gift card expiration date shall not be less than one year from the date of issuance. If no expiration date is printed on the front or back of the card, it is presumed valid until it is redeemed or replaced for a new gift card.

Fee Provision:

Ky. Rev. Stat. §367.890(3)

No person or entity shall charge service charges or fees relative to that gift card, including dormancy fees, latency fees, or administrative fees, that have the effect of reducing the total amount for which the holder of the gift card may redeem the gift card until the expiration date on the card has expired.

Escheat Provision:

Ky. Rev. Stat. §393.010
Gift certificates are not specifically included.

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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