§ 2703.
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/vt/title-8/chapter-81/2703A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 2703. Prohibited fees
(a)Dormancy fees, latency fees, issuance fees, redemption fees, or any other administrative fees or service charges in connection with a gift certificate are prohibited.
(b)Notwithstanding subsection
(a)of this section, a money transmitter licensed under chapter 79 of this title, financial institution, or credit union may charge a one-time fee upon the issuance of a prepaid access card that is reasonably related to the cost to the issuer of issuing the card, provided that in no event shall the fee exceed $10.00. (Added 2005, No. 39, § 1; amended 2019, No. 20, § 65; 2019, No. 103 (Adj. Sess.), § 11.)