Oklahoma § 15-796 - Definitions

§ 15-796. 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.

Oklahoma Statutes - Title 15. Contracts

Added by Laws 2005, c. 233, § 2, eff. Nov. 1, 2005.

2006, c. 59, § 1, eff. Nov. 1, 2006.

Amended by Laws