[First Reprint]

ASSEMBLY, No. 1519

STATE OF NEW JERSEY

INTRODUCED FEBRUARY 8, 1996

By Assemblymen IMPREVEDUTO and KELLY

An Act concerning gift certificates and supplementing P.L.1960, c.39 (C.56:8-1 et seq.).

    Be It Enacted by the Senate and General Assembly of the State of New Jersey:

    1. a. A gift certificate issued by a retail mercantile or service establishment for merchandise or service shall be valid until presented in exchange for that merchandise or service, or shall have any and all conditions and limitations: (1) disclosed to the purchaser of the gift certificate at the time of purchase and (2) conspicuously printed on the gift certificate.

    b. As used in this act, "gift certificate" means a written promise given in exchange for payment to provide merchandise or a service in a specified amount or of equal value to the bearer of the certificate.

    ¹2. A retail mercantile or service establishment issuing a gift certificate shall maintain a record of the transaction for the issuance of each such certificate for not less than 12 months following the date of purchase of the gift certificate.¹

    ¹[2.] 3.¹ The Director of the Division of Consumer Affairs in the Department of Law and Public Safety shall adopt, pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), rules and regulations necessary to implement this act.

    ¹[3.] 4.¹ It is an unlawful practice and a violation of P.L.1960, c.39 (C.56:8-1 et seq.) to violate the provisions of this act.

    ¹[4.] 5.¹ This act shall take effect on the first day of the fourth

month following enactment, except that section 2 shall take effect immediately.

Requires gift certificates to be valid until redeemed unless conditions and limitations are fully disclosed.