§ 14-4901
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/md/commercial-law/14-4901·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§14–4901.
(a)In this subtitle the following words have the meanings indicated.
(b)“Closed–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; and
(2)Redeemable on presentation by a consumer at a single merchant or a group of affiliated merchants.
(c)“Division” has the meaning stated in § 13–101 of this article.
(d)“Merchant” has the meaning stated in § 13–101 of this article.
(e)“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
(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.
(f)“Third–party gift card reseller” means a merchant who, without authorization from or affiliation with the business entity issuing an open– or a closed–loop gift card, is engaged in the business of:
(1)Buying open– or closed–loop gift cards on behalf of consumers; or
(2)Reselling open– or closed–loop gift cards to consumers.