Okla. Stat. tit. 15 § 796

Current through Laws 2024, c. 453.

Section 796 - Definitions

As used in the Gift Certificate and Gift Card Disclosure Act:

1. "Gift card" shall mean a plastic card or other electronic payment device which is:

a. issued in a predenominated amount or in an amount requested by the consumer,

b. usable to purchase goods and/or services only at a single merchant or group of merchants that are affiliated through common corporate ownership or control, and

c. purchased by a consumer on a prepaid basis in exchange for payment;

2. "Gift certificate" shall mean a written promise which is:

a. issued in a specified amount, indicated on its face, and cannot be increased in value,

b. usable to purchase goods and/or services only at a single merchant or a group of merchants that are affiliated through common corporate ownership or control, and

c. purchased by a consumer on a prepaid basis in exchange for payment;

3. "Issuer" shall mean a person or entity engaged in the business of offering goods and/or services for sale at retail who sells gift certificates or gift cards to consumers; and

4. "Prepaid service arrangement" shall mean a method to purchase specific services in advance and which enables the use of the service through a unique access number or authorization code provided manually or electronically to the service provider.

Okla. Stat. tit. 15, § 796

Added by Laws 2005 , HB 1986, c. 233, §2, eff. 11/1/2005; Amended by Laws 2006 , HB 2635, c. 59, §1, eff. 11/1/2006.