Washington § 19.240.090 - Value of gift certificate held in trust by issuer — Bankruptcy.

Full text of Washington Revised Code of Washington § 19.240.090 — Value of gift certificate held in trust by issuer — Bankruptcy., with citation guidance and answers to common questions.

§ 19.240.090. Value of gift certificate held in trust by issuer — Bankruptcy.

(1) A gift certificate constitutes value held in trust by the issuer of the gift certificate on behalf of the beneficiary of the gift certificate. The value represented by the gift certificate belongs to the beneficiary, or to the legal representative of the beneficiary to the extent provided by law, and not to the issuer.
(2) An issuer of a gift certificate who is in bankruptcy shall continue to honor a gift certificate issued before the date of the bankruptcy filing on the grounds that the value of the gift certificate constitutes trust property of the beneficiary.
(3) The terms of a gift certificate may not make its redemption or other use invalid in the event of a bankruptcy.
(4) This section does not require, unless otherwise required by law, the issuer of a gift certificate to:
(a) Redeem a gift certificate for cash;
(b) Replace a lost or stolen gift certificate; or
(c) Maintain a separate account for the funds used to purchase the gift certificate.
(5) This section does not create an interest in favor of the beneficiary of the gift certificate in any specific property of the issuer.
(6) This section does not create a fiduciary or quasi-fiduciary relationship between the beneficiary of the gift certificates and the issuer unless otherwise provided by law.
(7) The issuer of a gift certificate has no obligation to pay interest on the value of a gift certificate held in trust under this section, unless otherwise provided by law.
[ 2004 c 168 s 10.]

Source: official Washington text · Last verified 2026-08-27

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Frequently Asked Questions About Washington § 19.240.090

What does Revised Code of Washington § 19.240.090 cover?

Section 19.240.090 ("Value of gift certificate held in trust by issuer — Bankruptcy.") is part of the Revised Code of Washington, the codified statutory law of Washington. 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 Washington § 19.240.090?

A common citation format is "Revised Code of Washington § 19.240.090" (Washington). 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 Washington law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Washington official source linked on this page or consult a licensed Washington attorney.

How does Washington § 19.240.090 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Washington 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 Washington.