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Both state and federal law now regulates gift cards and certificates. In Illinois, the combined effect is basically that gift cards and certificates should never expire. They also should never have fees. The first law to regulate gift cards was the Illinois Unclaimed Property Act.
1 Ιαν 2022 · Any gift certificate issued prior to January 1, 2008 that is subject to an expiration date must contain a statement clearly and conspicuously printed on the gift certificate stating the expiration date.
(b) On or after January 1, 2008, no person shall sell a gift certificate that is subject to: (1) an expiration date earlier than 5 years after the date of issuance; or (2) a post-purchase fee.
(b) On or after January 1, 2008, no person shall sell a gift certificate that is subject to: (1) an expiration date earlier than 5 years after the date of issuance; or (2) a post-purchase fee.
29 Ιουλ 2024 · In most cases, a gift certificate or gift card can expire after five years. But some state laws provide even greater consumer protections than federal law. If you're planning on buying a gift certificate or gift card—or if you've recently received one—you should learn how they work and what laws apply to them. In This Article.
Under Illinois’ Consumer Fraud Act, most gift cards sold in Illinois that are usable only at a specific retailer or restaurant are not allowed to charge inactivity fees.
1, 2008 that is subject to an expiration date must contain a : statement clearly and conspicuously printed on the gift : certificate stating the expiration date. The statement may : appear on the front or back of the gift certificate in a : location where it is visible to any purchaser prior to the : purchase.
