New York A05865 amends the general business law to allow redemption of prepaid gift cards with a remaining value of less than ten dollars for cash.
New York A05865 amends the general business law to modify the cash out requirements for prepaid gift cards. Specifically, it allows for the redemption of gift certificates, excluding open loop and promotional gift certificates, with a remaining value of less than ten dollars for their cash value. This change takes effect immediately upon enactment.
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