(a) This part shall not apply to a gift certificate or gift card; provided the gift certificate or gift card has no expiration date, no expiration period, and no type of post-sale charge or fee (including but not limited to service charges, dormancy fees, account maintenance fees, cash-out fees, replacement card fees, and activation or reactivation charges).
Terms Used In Hawaii Revised Statutes 523A-3.5
Dependent: A person dependent for support upon another.
Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
(b) This part shall not apply to a gift certificate or gift card that has an expiration date, expiration period, or any type of post-sale charge or fee, including but not limited to service charges, dormancy fees, account maintenance fees, cash-out fees, replacement card fees, and activation or reactivation charges if:
(1) The gift certificate or gift card was issued before January 1, 2010; and(2) It is the policy and practice of the issuer of the gift certificate or gift card to:
(A) Honor the gift certificate or gift card after its expiration date or the end of its expiration period; and(B) Eliminate all post-sale charges and fees.(c) As used in this section, “gift certificate” or “gift card”:
(1) Means a written promise or electronic payment device that:
(A) Is usable at a single merchant or an affiliated group of merchants that share the same name, mark, or logo, or is usable at multiple, unaffiliated merchants or service providers;(B) Is issued in a specific amount (which may or may not be denominated on the gift certificate or gift card);(C) May or may not be increased in value or reloaded;(D) Is purchased, or loaded, or both, on a prepaid basis for the future purchase or delivery of any goods or services; and(E) Is honored upon presentation.(2) Shall not include:
(A) An electronic payment device linked to a deposit account, or prepaid telephone calling cards;(B) Flexible spending arrangements as defined in section 106(c)(2) of the Internal Revenue Code (26 U.S.C. § 106(c)(2)); flexible spending accounts subject to section 125 of the Internal Revenue Code (26 U.S.C. § 125), Archer MSAs as defined in section 220(d) of the Internal Revenue Code (26 U.S.C. § 129); dependent care reimbursement accounts subject to section 129 of the Internal Revenue Code (26 U.S.C. § 129); health savings accounts subject to section 223(d) of the Internal Revenue Code (26 U.S.C. § 223(d)), as amended by section 1201 of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (P.L. 108-173); or similar accounts for which, under the Internal Revenue Code and its implementing regulations, individuals may pay medical expenses, health care expenses, dependent care expenses, or similar expenses on a pretax basis. As used in this subparagraph, “Internal Revenue Code” means the Internal Revenue Code of 1986, as amended; and(C) Payroll cards or other electronic payment devices that are linked to a deposit account and that are given in exchange for goods or services rendered.