GroundRules
AS 34.45.240: Gift certificates and credit memos.
Where this section sits in the code
- Title 34. Property.
- Chapter 45. Unclaimed Property.
- Article 3. Conditions Leading to Presumption of Abandonment of Particular Types of Personal Property.
(a) A gift certificate or a credit memo, issued in the ordinary course of an issuer's business, that remains unclaimed by the owner for more than three years after becoming payable or distributable is presumed abandoned.
(b) In the case of a gift certificate, the amount presumed abandoned is the price paid by the purchaser for the gift certificate. In the case of a credit memo, the amount presumed abandoned is the amount credited to the recipient of the memo.
Collected 2026-09-02T06:18:42Z. Source file · JSON