Oklahoma § 15-798 - Gift certificate or gift card value – Trust property
Full text of Oklahoma Oklahoma Statutes § 15-798 — Gift certificate or gift card value – Trust property, with citation guidance and answers to common questions.
§ 15-798. Gift certificate or gift card value – Trust property
A. A gift certificate or gift card constitutes value held in
trust by the issuer of the gift certificate or gift card on behalf
of the beneficiary of the gift certificate or gift card. The value
represented by the gift certificate or gift card belongs to the
beneficiary, or to the legal representative of the beneficiary to
the extent provided by law, and not to the issuer.
B. An issuer of a gift certificate or gift card or who is in
bankruptcy shall continue to honor a gift certificate or gift card
issued prior to the date of the bankruptcy filing on the grounds
that the value of the gift certificate or gift card constitutes
trust property of the beneficiary.
C. 1. This section does not alter the terms of a gift
certificate or gift card. The terms of a gift certificate or gift
card may not make its redemption or other use invalid in the event
of a bankruptcy.
2. This section does not require, unless otherwise required by
law, the issuer of a gift certificate or gift card to:
a. redeem a gift certificate or gift card for cash,
b. replace a gift certificate or gift card that has been
lost or stolen, or
c. maintain a separate account for the funds used to
purchase the gift certificate or gift card.
D. 1. This section does not create an interest in favor of the
beneficiary of the gift certificate or gift card in any specific
property of the issuer;
2. This section does not create a fiduciary or quasi-fiduciary
relationship between the beneficiary of the gift certificates or
gift cards and the issuer, unless otherwise provided by law; and
Oklahoma Statutes - Title 15. Contracts
3. The issuer of a gift certificate or gift card has no
obligation to pay interest on the value of the gift certificate or
gift card held in trust under this section, unless otherwise
provided by law.
Any waiver of the provisions of Title 15 of the Oklahoma
Statutes is contrary to public policy, and is void and
unenforceable.
Added by Laws 2005, c. 233, § 4, eff. Nov. 1, 2005.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 15-798
What does Oklahoma Statutes § 15-798 cover?
Section 15-798 ("Gift certificate or gift card value – Trust property") is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Oklahoma § 15-798?
A common citation format is "Oklahoma Statutes § 15-798" (Oklahoma). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 15-798 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Oklahoma.