Shown verbatim: the complete text as captured from the official PDF posted by the Rhode Island General Assembly, fetched 2026-07-29. Page and line markers are part of the official record; nothing is edited or removed. The official bill page.
H8264 2026 -- H 8264 ======== LC005990 ======== STATE OF RHODE ISLAND IN GENERAL ASSEMBLY JANUARY SESSION, A.D. 2026 ____________ A N A C T RELATING TO COMMERCIAL LAW -- GENERAL REGULATORY PROVISIONS -- UNFAIR SALES PRACTICES Introduced By: Representatives Phillips, Batista, J. Brien, Casey, Corvese, Noret, and Read Date Introduced: March 11, 2026 Referred To: House Corporations It is enacted by the General Assembly as follows: 1 SECTION 1. Chapter 6-13 of the General Laws entitled Unfair Sales Practices is hereby 2 amended by adding thereto the following section: 3 6-13-12.2. Money received for gift certificates. 4 (a) Any money, payment, or other monetary consideration received by any person, firm or 5 corporation who or that sells any gift certificate for any product or merchandise sold by the person, 6 firm or corporation, hereinafter referred to as a “retailer,” shall place the funds or consideration 7 received for the gift certificate in a separate account. Funds shall be held in this separate account 8 until the gift certificate is used or redeemed. Upon redemption of the gift certificate, in whole or in 9 part, the funds in the separate account may be transferred to the retailer’s business account or such 10 other account as where the retailer keeps funds collected in the usual course of the retailer’s 11 business, in an amount equal to the amount of the gift certificate which has been redeemed. 12 Provided, a gift certificate that is distributed to a consumer pursuant to a rewards, loyalty, or 13 promotional program without any money or other thing of value being given in exchange for the 14 gift certificate by the consumer, shall be exempt from the provisions of this section. 15 (b) As used herein, the term “retailer” shall have the same meaning as defined in § 6-13- 16 12. 1 SECTION 2. This act shall take effect upon passage. ======== LC005990 ======== LC005990 - Page 2 of 3 EXPLANATION BY THE LEGISLATIVE COUNCIL OF A N A C T RELATING TO COMMERCIAL LAW -- GENERAL REGULATORY PROVISIONS -- UNFAIR SALES PRACTICES *** 1 This act would require that retailers retain money received for gift certificates in a separate 2 account, until the gift certificate is used or redeemed. 3 This act would take effect upon passage. ======== LC005990 ======== LC005990 - Page 3 of 3
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