Escheat & Gift Card Laws: Alaska

Saturday, December 29, 2012


Definition of Gift Card/Gift Certificate

Alaska Stat. §34.45.760

“Gift certificate” means an obligation of a business association arising from a transaction between the business association and a consumer to provide goods or services at a future date; “gift certificate” includes a gift certificate, stored value card, gift card, on-line gift account, or other representation or evidence of the obligation of a business association.

Escheat Provision

Alaska Stat. §34.45.240

Gift certificate is presumed abandoned three years after is it unclaimed by the owner. Amount presumed abandoned is the price paid by the purchaser for the gift certificate.

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.

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