2016 North Dakota Century Code Title 51 Sales and Exchanges Chapter 51-06 Trading Stamps and Devices
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CHAPTER 51-06
TRADING STAMPS AND DEVICES
51-06-01. Cash value of trading stamps - Redemption.
All stamps, coupons, tickets, certificates, cards, or similar devices, hereinafter called trading
stamps, which are furnished to any person in the course of the sale of goods or merchandise
which may entitle the person holding such trading stamps to receive or procure from any person
goods or merchandise free of charge or for less than the retail market price thereof, the value of
such trading stamps excluded, shall have the cash value of each trading stamp stated on the
face thereof. All such trading stamps must, at the option of the holder, be redeemable in cash at
any office or agency of the trading stamp company redeeming the trading stamps in
merchandise or at any business establishment furnishing such trading stamps with the sale of
merchandise. Provided, further, that the provisions of this chapter do not apply to any coupon,
ticket, certificate, card, or other similar device issued or distributed by a manufacturer or packer,
which is redeemable for any goods, wares, or merchandise, either by the manufacturer or
packer, or their agents, or an independent contractor acting for redemption.
51-06-02. Retention of redemption funds.
Any person, firm, corporation, limited liability company, or association furnishing trading
stamps to retailers and agreeing to redeem trading stamps as provided in this chapter may not
discontinue the redemption of trading stamps without first notifying the secretary of state of such
intention to discontinue redemption. Upon such notice, the secretary of state shall direct that all
funds set aside by the person, firm, corporation, limited liability company, or association for the
redemption of trading stamps and such additional funds as in the judgment of the secretary of
state may be necessary, be retained by such person, firm, corporation, limited liability company,
or association responsible for the redemption of trading stamps for a period of six months for the
purpose of redeeming outstanding stamps in merchandise or reimbursing the holders thereof in
cash. The secretary of state may require the filing of an acceptable surety bond conditioned
upon the redemption of outstanding trading stamps or the reimbursement of the holders thereof.
51-06-03. Penalty.
Any person violating any of the provisions of this chapter is guilty of a class B misdemeanor.
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