1. (1) A travel credit is valid until redemption and does not terminate. A travel credit is considered trust property of the possessor if the issuer or seller of the travel credit declares bankruptcy after issuing or selling the travel credit.
2. (2) The value represented by the travel credit belongs to the possessor and not to the issuer or seller. An issuer or seller may redeem a travel credit presented by an individual whose name does not match the name on the travel credit.
3. (3) A travel credit may not be reduced in value by any fee, including a dormancy fee applied if a travel credit is not used.
4. (4) If the original value of the travel credit was more than $5 and the remaining value is less than $5 and the possessor requests cash for the remainder, the issuer or seller shall redeem the travel credit for cash.

History: En. Sec. 2, Ch. 625, L. 2025.