An Act Regarding the Presumption of Abandonment of Gift Obligations
Maine Legislature, Session 129, LD 1612
Committee: Judiciary
Sponsors: GIDEON, LIBBY, BAILEY, DILLINGHAM, HANDY, CARSON, DOW, KEIM
Amends: 33 MRSA §1953

Legislative Document
No. 1612
H.P. 1164
House of Representatives, April 23, 2019
An Act Regarding the Presumption of Abandonment of Gift 
Obligations
Reference to the Committee on Judiciary suggested and ordered printed.
ROBERT B. HUNT
Clerk
Presented by Speaker GIDEON of Freeport.
Cosponsored by Senator LIBBY of Androscoggin and
Representatives: BAILEY of Saco, DILLINGHAM of Oxford, HANDY of Lewiston, 
Senators: CARSON of Cumberland, DOW of Lincoln, KEIM of Oxford.
Be it enacted by the People of the State of Maine as follows:
Sec. 1.  33 MRSA §1953, sub-§1, ¶G, as corrected by RR 2011, c. 1, §48, is 
amended to read:
G.  A gift obligation or stored-value card, 2 years after December 31st of the year in 
which the obligation or the most recent transaction involving the obligation or stored-
value card occurred, whichever is later, including the initial issuance and any 
subsequent addition of value to the obligation or stored-value card.
(1)  The amount unclaimed is 60% of the gift obligation's or stored-value card's 
face value.
(2)  A gift obligation or stored-value card sold on or after December 31, 2011 is 
not presumed abandoned if the gift obligation or stored-value card was sold by a 
single issuer who in the past calendar year sold no more than $250,000 in face 
value of gift obligations or stored-value cards.  Sales of gift obligations and 
stored-value cards are considered sales by a single issuer if the sales were by 
businesses that operate either:
(a) Under common ownership or control with another business or businesses 
in the State; or
(b)  As franchised outlets of a parent business.
(3)  A period of limitation may not be imposed on the owner's right to redeem the 
a gift obligation or stored-value card.
(4)  Notwithstanding section 1956, fees or charges may not be imposed on gift 
obligations or stored-value cards, except that the issuer may charge a transaction 
fee for the initial issuance and for each occurrence of adding value to an existing 
gift obligation or stored-value card.  These transaction fees must be disclosed in a 
separate writing prior to the initial issuance or referenced on the gift obligation or 
stored-value card.
(5)  Beginning November 1, 2008, if the gift obligation or stored-value card is 
redeemed in person and a balance of less than $5 remains following redemption, 
at the consumer's request the merchant redeeming the gift obligation or 
stored-value card must refund the balance in cash to the consumer.  This 
subparagraph does not apply to a prepaid telephone service card, a gift obligation 
or nonreloadable stored-value card with an initial value of $5 or less or a stored-
value card that is not purchased but provided as a promotion or as a refund for 
merchandise returned without a receipt.
(6)  This paragraph does not apply to prefunded bank cards;.
(7)  A gift obligation card may not be presumed to be abandoned;
SUMMARY
Under current law, a gift obligation card, which includes a gift certificate, gift card 
and online gift account, is considered abandoned 2 years after the expiration of the 
calendar year in which it was purchased or last used.  This bill removes the presumption 
of abandonment for gift obligation cards.