{"data":{"id":"us-ok/okla.-stat.-tit.-15-15-798","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 15, § 15-798","heading":"Gift certificate or gift card value – Trust property","body":"A. A gift certificate or gift card constitutes value held in\n\ntrust by the issuer of the gift certificate or gift card on behalf\n\nof the beneficiary of the gift certificate or gift card. The value\n\nrepresented by the gift certificate or gift card belongs to the\n\nbeneficiary, or to the legal representative of the beneficiary to\n\nthe extent provided by law, and not to the issuer.\n\nB. An issuer of a gift certificate or gift card or who is in\n\nbankruptcy shall continue to honor a gift certificate or gift card\n\nissued prior to the date of the bankruptcy filing on the grounds\n\nthat the value of the gift certificate or gift card constitutes\n\ntrust property of the beneficiary.\n\nC. 1. This section does not alter the terms of a gift\n\ncertificate or gift card. The terms of a gift certificate or gift\n\ncard may not make its redemption or other use invalid in the event\n\nof a bankruptcy.\n\n2. This section does not require, unless otherwise required by\n\nlaw, the issuer of a gift certificate or gift card to:\n\na. redeem a gift certificate or gift card for cash,\n\nb. replace a gift certificate or gift card that has been\n\nlost or stolen, or\n\nc. maintain a separate account for the funds used to\n\npurchase the gift certificate or gift card.\n\nD. 1. This section does not create an interest in favor of the\n\nbeneficiary of the gift certificate or gift card in any specific\n\nproperty of the issuer;\n\n2. This section does not create a fiduciary or quasi-fiduciary\n\nrelationship between the beneficiary of the gift certificates or\n\ngift cards and the issuer, unless otherwise provided by law; and\n\n3. The issuer of a gift certificate or gift card has no\n\nobligation to pay interest on the value of the gift certificate or\n\ngift card held in trust under this section, unless otherwise\n\nprovided by law.\n\nAny waiver of the provisions of Title 15 of the Oklahoma\n\nStatutes is contrary to public policy, and is void and\n\nunenforceable.","path":["OK Code","Title 15"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os15.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"7f754ba9a5e2c2d4aa16a2e7964c24f2c802aaf0e415059b30991072bfb02194","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-15-15-797","next":"us-ok/okla.-stat.-tit.-15-15-798.1"},"notice":"GroundRules: Original legal text. Not legal advice."}