Print

The Vermont Statutes Online



Title

08

:
Banking and Insurance






Chapter

081

:
GIFT CERTIFICATES











 

§

2707. Exemption

Except as

provided in this section, the provisions of this chapter shall not apply to the

following:

(1) A loyalty,

award, or promotional gift certificate where no money or other thing of value

is given in exchange for the gift certificate, provided that the gift

certificate complies with section 2702a of this title.

(2) The

promotional value of a loyalty, award, or promotional gift certificate issued

in exchange for paid value, provided that the gift certificate complies with

sections 2702 and 2702a of this title.

(3) A gift

certificate donated to a charitable organization and used for fund-raising

activities of a charitable organization, without any money or other thing of

value being given in exchange for the gift certificate by the charitable

organization, provided that the expiration date is clearly and legibly printed

on the gift certificate.

(4) Prepaid

calling cards issued solely to provide an access number and authorization code

for prepaid calling services.

(5) A season

pass, a discount ski card, or a record sold for admission to any seasonal

recreational activity.

(6) A payroll

card account issued pursuant to and in full compliance with 21 V.S.A. § 342(c).

(Added 2005, No. 39, § 1; amended 2009, No. 115 (Adj. Sess.), § 2, eff. May 21,

2010; 2011, No. 136 (Adj. Sess.), § 7, eff. May 18, 2012.)