717.1045 Gift certificates and similar credit items.—Notwithstanding s. 717.117, an unredeemed gift certificate or credit memo as defined in s. 501.95 is not required to be reported as unclaimed property.
(1) The consideration paid for an unredeemed gift certificate or credit memo is the property of the issuer of the unredeemed gift certificate or credit memo.
(2) An unredeemed gift certificate or credit memo is subject only to any rights of a purchaser or owner thereof and is not subject to a claim made by any state acting on behalf of a purchaser or owner.
(3) It is the intent of the Legislature that this section apply to the custodial holding of unredeemed gift certificates and credit memos.
(4) However, a gift certificate or credit memo described in s. 501.95(2)(b) shall be reported as unclaimed property. The consideration paid for such a gift certificate or credit memo is the property of the owner of the gift certificate or credit memo.
History.—s. 2, ch. 2007-256.
Section: Previous 717.001 717.101 717.102 717.103 717.1035 717.104 717.1045 717.105 717.106 717.107 717.1071 717.108 717.109 717.1101 717.111 NextLast modified: September 23, 2016