§ 59.1-530 Definitions
As used in this chapter, unless the context clearly requires otherwise: “Dormancy fee” or “inactivity charge or fee” means any fee, charge, or penalty for non-use or inactivity of a gift certificate. “General use prepaid card” means a card or other payment code or device issued by any person that is (i) redeemable at multiple, unaffiliated merchants or service providers, or automated teller machines; (ii) issued in a requested amount, whether or not that amount may, at the option of the issuer, be increased in value or reloaded if requested by the holder; (iii) purchased or loaded on a prepaid basis; and (iv) honored, upon presentation, by merchants for goods or services or at automated teller machines. “Gift certificate” or “certificate” means a certificate, electronic card, or other medium issued by a merchant that evidences the giving of consideration in exchange for the right to redeem the certificate, electronic card, or other medium for goods, food, services, credit, or money of at least an equal value, including any electronic card issued by a merchant with a banked dollar value where the issuer has received payment for the full banked dollar value for the future purchase, or delivery, of goods or services and any certificate issued by a merchant where the issuer has received payment for the full face value of the certificate for future purchases, or delivery, of goods or services. “Gift certificate” includes general use prepaid cards. “Merchant” means an owner or operator of any mercantile establishment or any agent, employee, lessee, consignee, officer, director, franchisee, or independent contractor of such owner or operator. “Service fee” means a periodic fee, charge, or penalty for holding or using a gift certificate. With respect to a general use prepaid card, “service fee” does not include a one-time initial issuance fee.
History
This law was first created in 2005. The record of its establishment is cataloged in chapters 269 and 303 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. That modification is as follows: in 2025, chapter 629.
2005, cc. 269, 303; 2025, c. 629.