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Maryland Code, Commercial Law § 14-4901

Current as of January 01, 2025 | Updated by Findlaw Staff

<Section effective June 1, 2025 until Oct. 1, 2025. See, also, section 14-4901 effective Oct. 1, 2025.>

(a) In this subtitle the following words have the meanings indicated.

(b) “Division” has the meaning stated in § 13-101 of this article.

(c) “Merchant” has the meaning stated in § 13-101 of this article.

(d) “Open-loop gift card” means a card, code, or device that is:

(1) Issued to a consumer on a prepaid basis primarily for personal, family, or household purposes in a specified amount, regardless of whether that amount may be increased or reloaded in exchange for payment;

(2) Payment card network branded; and

(3)(i) Redeemable on presentation at multiple unaffiliated merchants for goods or services within the payment card network; or

(ii) Usable at an automated teller machine.

(e) “Third-party gift card reseller” means a merchant who, without authorization from or affiliation with the business entity issuing an open-loop gift card, is engaged in the business of:

(1) Buying open-loop gift cards on behalf of consumers; or

(2) Reselling open-loop gift cards to consumers.

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Cite this article: FindLaw.com - Maryland Code, Commercial Law § 14-4901 - last updated January 01, 2025 | https://codes.findlaw.com/md/commercial-law/md-code-coml-sect-14-4901/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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