AN ACT RELATING TO COMMERCIAL LAW -- GENERAL REGULATORY PROVISIONS -- UNFAIR SALES PRACTICES (Requires that retailers retain money received for gift certificates in a separate account, until the gift certificate is used or redeemed.)

H8264

2026 -- H 8264
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LC005990
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STATE OF RHODE ISLAND
IN GENERAL ASSEMBLY
JANUARY SESSION, A.D. 2026
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A N A C T
RELATING TO COMMERCIAL LAW -- GENERAL REGULATORY PROVISIONS --
UNFAIR SALES PRACTICES

Introduced By:
Representatives Phillips, Batista, J. Brien, Casey, Corvese, Noret, and
Read

Date Introduced:
March 11, 2026

Referred To:
House Corporations
It is enacted by the General Assembly as follows:
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SECTION 1. Chapter 6-13 of the General Laws entitled "Unfair Sales Practices" is hereby
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amended by adding thereto the following section:
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6-13-12.2. Money received for gift certificates.

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(a) Any money, payment, or other monetary consideration received by any person, firm or
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corporation who or that sells any gift certificate for any product or merchandise sold by the person,
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firm or corporation, hereinafter referred to as a “retailer,” shall place the funds or consideration
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received for the gift certificate in a separate account. Funds shall be held in this separate account
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until the gift certificate is used or redeemed. Upon redemption of the gift certificate, in whole or in
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part, the funds in the separate account may be transferred to the retailer’s business account or such
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other account as where the retailer keeps funds collected in the usual course of the retailer’s
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business, in an amount equal to the amount of the gift certificate which has been redeemed.
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Provided, a gift certificate that is distributed to a consumer pursuant to a rewards, loyalty, or
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promotional program without any money or other thing of value being given in exchange for the
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gift certificate by the consumer, shall be exempt from the provisions of this section.
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(b) As used herein, the term “retailer” shall have the same meaning as defined in § 6-13-
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12.

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SECTION 2. This act shall take effect upon passage.
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LC005990
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EXPLANATION
BY THE LEGISLATIVE COUNCIL
OF
A N A C T
RELATING TO COMMERCIAL LAW -- GENERAL REGULATORY PROVISIONS --
UNFAIR SALES PRACTICES
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This act would require that retailers retain money received for gift certificates in a separate
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account, until the gift certificate is used or redeemed.
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This act would take effect upon passage.
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LC005990
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LC005990 - Page 3 of 3