(a) A gift certificate or a credit memo, issued in the ordinary course of an issuer's business, that remains unclaimed by the owner for more than three years after becoming payable or distributable is presumed abandoned.
(b) In the case of a gift certificate, the amount presumed abandoned is the price paid by the purchaser for the gift certificate. In the case of a credit memo, the amount presumed abandoned is the amount credited to the recipient of the memo.
Section: Previous 34.45.150 34.45.160 34.45.170 34.45.175 34.45.180 34.45.190 34.45.200 34.45.210 34.45.220 34.45.230 34.45.240 34.45.250 34.45.260 34.45.270 NextLast modified: November 15, 2016