Md. Code, Com. § 14-4904

Current with changes from the 2024 Legislative Session

Section 14-4904 - [Effective 6/1/2025] OPEN- and closed-LOOP gift card model notice

The Division shall:

(1) Create a model notice regarding OPEN- and closed-LOOP gift cards for use by merchants that:

(i) Cautions a consumer about gift card scams;

(ii) Instructs a consumer on what to do if the consumer suspects the consumer may be a victim of a gift card scam; and

(iii) Indicates a gift card may not be used to pay debt;

(2) Issue guidelines regarding the detection and prevention of OPEN- AND closed-LOOP gift card fraud that include:

(i) Information that raises public awareness about gift card fraud;

(ii) Information about how common gift card fraud schemes work; and

(iii) Best practices for a merchant to prevent gift card fraud; and

(3) Make available online and periodically update the model notice and guidelines required under this section.

Md. Code, CL § 14-4904

Added by 2024 Md. Laws, Ch. 463,Sec. 1, eff. 6/1/2025.