There is a newer version
of
this Section
2017 Vermont Statutes
Title 8 - Banking and Insurance
Chapter 81 - Gift Certificates
§ 2703 Prohibited fees
Universal Citation: 8 V.S.A. § 2703
§ 2703. Prohibited fees
(a) Dormancy fees, latency fees, issuance fees, redemption fees, or any other administrative fees or service charges in connection with a gift certificate are prohibited.
(b) Notwithstanding subsection (a) of this section, a money transmitter licensed under chapter 79 of this title, financial institution, or credit union may charge a one-time fee upon the issuance of a stored-value card equal to the lesser of:
(1) 10 percent of the face amount purchased or added to the stored-value card; or
(2) $10.00. (Added 2005, No. 39, § 1.)
Disclaimer: These codes may not be the most recent version. Vermont may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
