New Hampshire Revised Statutes 471-C:16 – Gift Certificates and Store Credits
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Terms Used In New Hampshire Revised Statutes 471-C:16
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Owner: means a depositor in the case of a deposit, a beneficiary in case of a trust other than a deposit in trust, a creditor, claimant, or payee in the case of other intangible property, or a person having a legal or equitable interest in property subject to this chapter or his legal representative. See New Hampshire Revised Statutes 471-C:1
- State: means any state, district, commonwealth, territory, insular possession, or any other area subject to the legislative authority of the United States. See New Hampshire Revised Statutes 471-C:1
Notwithstanding any law to the contrary, gift certificates of $250 or less, and store credits that were issued for store merchandise credit, regardless of when issued, shall not be property presumed abandoned and shall not be subject to N.H. Rev. Stat. Chapter 471-C or any other past or present law. All gift certificates and store credits remitted to the state prior to January 1, 2018, and gift certificates and store credits that are properly determined to be reportable in any compliance audits initiated prior to January 1, 2018 and subsequently remitted, shall remain in the custody of the state unless and until returned to the owner. This section shall not apply to season passes or coupons that are nonrefundable and nonredeemable.