By Mr. Straus of Mattapoisett, petition (accompanied by bill, House, No. 326) of William M. Straus relative to credit backed or bank issued gift cards.  Consumer Protection and Professional Licensure.

The Commonwealth of Massachusetts

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PETITION OF:

William M. Straus

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In the Year Two Thousand and Seven.

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An Act relative to credit backed or bank issued gift cards.

    Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

SECTION 1.  Section 1 of Chapter 255D, as amended by Chapter 18 of the Act of 2003, is further amended by striking the definition of “Gift Certificate” and inserting in place thereof the following:—

            “Gift Certificate” a writing identified as a gift certificate or a credit backed or bank issued gift card, purchased by a buyer for use by a person other than the buyer not redeemable in cash and usable in its face amount in lieu of cash in exchange for goods or services supplied by the seller.