As used in the Gift Certificate and Gift Card Disclosure Act:

1. 1. "Gift card" shall mean a plastic card or other electronic payment device which is:

   1. a. issued in a predenominated amount or in an amount requested by the consumer,
   2. b. usable to purchase goods and/or services only at a single merchant or group of merchants that are affiliated through common corporate ownership or control, and
   3. c. purchased by a consumer on a prepaid basis in exchange for payment;

2. 2. "Gift certificate" shall mean a written promise which is:

   1. a. issued in a specified amount, indicated on its face, and cannot be increased in value,
   2. b. usable to purchase goods and/or services only at a single merchant or a group of merchants that are affiliated through common corporate ownership or control, and
   3. c. purchased by a consumer on a prepaid basis in exchange for payment; and
3. 3. "Issuer" shall mean a person or entity engaged in the business of offering goods and/or services for sale at retail who sells gift certificates or gift cards to consumers.

Added by Laws 2005, HB 1986, c. 233, § 2, eff. November 1, 2005.