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(765 ILCS 1025/10.6)
Sec. 10.6. Gift certificates and gift cards.
(a) This Act applies to a gift certificate or gift card only if:
(i) the gift certificate or gift card contains or has |
| language indicating there is an expiration date, expiration period or language indicating that there is any type of post-sale charge or fee including but not limited to service charges, dormancy fees, account maintenance fees, cash-out fees, replacement card fees, and activation or reactivation charges; and
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(ii) none of the exceptions in this Section apply.
(b) This Act does not apply to a gift certificate or gift card that
contains or has language indicating that there is an expiration date or expiration period, or any type of post-sale charge or fee including but not limited to service charges, dormancy fees, account maintenance fees, cash-out fees, replacement card fees, and activation or reactivation charges
if:
(i) the gift certificate or gift card was issued
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| before the effective date of this amendatory Act of the 93rd General Assembly; and
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(ii) it is the policy and practice of the issuer of
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| the gift certificate or gift card to honor the gift certificate or gift card after its expiration date or the end of its expiration period and it is the policy and practice of the issuer of the gift certificate or gift card to eliminate all post-sale charges and fees, and the issuer posts written notice of the policy and practice at locations at which the issuer sells gift certificates or gift cards. The written notice shall be an original or a copy of a notice that the State Treasurer shall produce and provide to issuers free of charge.
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(c) Nothing in this Section applies to a gift certificate or gift card if
the value of the gift certificate or gift card was reported and remitted under
this Act before the effective date of this amendatory Act of the 93rd General
Assembly.
(Source: P.A. 92-487, eff. 8-23-01; 93-945, eff. 1-1-05.)
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