1. (1) Create a model notice regarding open- and closed-loop gift cards for use by merchants that:

   1. (i) Cautions a consumer about gift card scams;
   2. (ii) Instructs a consumer on what to do if the consumer suspects the consumer may be a victim of a gift card scam; and
   3. (iii) Indicates a gift card may not be used to pay debt;

2. (2) Issue guidelines regarding the detection and prevention of open- and closed-loop gift card fraud that include:

   1. (i) Information that raises public awareness about gift card fraud;
   2. (ii) Information about how common gift card fraud schemes work; and
   3. (iii) Best practices for a merchant to prevent gift card fraud; and
3. (3) Make available online and periodically update the model notice and guidelines required under this section.

The Division shall:

Added by Acts 2024, c. 463, § 1, eff. June 1, 2025. Amended by Acts 2024, c. 463, § 2, eff. Oct. 1, 2025.