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The Legislature along with Governor Granholm has passed new legislation that strengthens consumer protections on gift cards and gift certificates. The new laws amend the Michigan Consumer Protection Act and the Uniform Unclaimed Property Act by prohibiting retailers from:
- refusing to accept a certificate during a sale, closeout or liquidation,
- restricting the holder of a certificate from using it in a manner consistent with the stated terms of the certificate,
- altering any term or condition of a certificate after it has been issued,
- failing to properly disclose the terms and conditions of a certificate,
- refusing to accept the gift certificate as a portion of the payment where the purchase is greater than the balance remaining on the certificate,
- charging an inactivity fee or other service fee to the consumer for using or possessing a gift certificate,
- selling a gift certificate that expires less than five years after it is issued,
- considering them abandoned property after five years under the state's Uniformed Unclaimed Property Act.