CHAPTER 339
H.P. 1084 - L.D. 1479
An Act To Protect Maine Consumers from Hidden Fees and Charges
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 33 MRSA §1952, sub-§§4-A and 5-A are enacted to read:
4-A. Face value. "Face value" means the original purchase price or original issued value of a gift obligation if unused or, if partially used, the remaining balance prior to the deduction of any service charges, fees or dormancy charges.
5-A. Gift obligation. "Gift obligation" 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. This includes, but is not limited to, a gift certificate, gift card, on-line gift account or other representation or evidence of the obligation.
Sec. 2. 33 MRSA §1953, sub-§1, ¶G, as amended by PL 2003, c. 20, Pt. T, §21, is further amended to read:
G. A gift certificate obligation, 3 years after December 31st of the year in which the certificate was sold; the gift obligation occurred. A period of limitation may not be imposed on the owner's right to redeem the gift obligation. The amount unclaimed is the price paid by the purchaser for face value of the gift certificate obligation, except that the amount unclaimed is 60% of the certificate's gift obligation's face value if the issuer of the certificate gift obligation does not impose a dormancy charge or period of limitations on the owner's right to redeem the certificate at 100% of face value. Fees or charges may not be imposed on gift obligations unless they are noted on the gift obligation and are in accordance with section 1956. The amount of these charges or fees may not be unconscionable;
Effective September 13, 2003, unless otherwise indicated.
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