Posts Tagged ‘gift card law’

Judge puts NJ gift card seizure law on hold

Tuesday, February 1st, 2011

Today, the Associated press announced: Trenton, N.J.:  A federal judge has temporarily stopped the state of New Jersey with their plan to profit from money left on gift cards. The state worked to legally seize unused money on gift cards and travelers checks. The state’s retailers would have been required to begin collecting the zip codes of gift card buyers starting today Tuesday February 1st, 2011. If this effort was not blocked and a gift card has remained unredeemed after two years, the state could seize the money left on the cards if bought by NJ residents.

The Associated Press states : “The state expects to raise about $80 million from the unspent cards to help balance the state budget. New Jersey Retail Merchants Association, the New Jersey Food Council and American Express sued to block the law. A federal judge granted the temporary injunction on Monday pending a more detailed review.”

Are the details of this legal issue of interest to you? Visit Legalbytes.com for more: http://www.legalbytes.com/2010/08/articles/promotions/gift-cards-in-new-jersey-its-complicated/

A perspective from NJ.com:  Should New Jersey cash in Aunt Betty’s gift to you?