(1)  A retail business engaging in a transaction involving a transaction card or gift card issued by that retail business and that bears the branding of that retail business is not subject to this chapter.

Terms Used In Utah Code 13-32a-103.1

  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Gift card: means a record that:
(a) is usable at:
(i) a single merchant; or
(ii) a specified group of merchants;
(b) is prefunded before the record is used; and
(c) can be used for the purchase of goods or services. See Utah Code 13-32a-102
  • Pawn or secondhand business: means a business operated by a pawnbroker or secondhand merchandise dealer, or the owner or operator of the business. See Utah Code 13-32a-102
  • Transaction card: means a card, code, or other means of access to a value with the retail business issued to a person that allows the person to obtain, purchase, or receive any of the following:
    (a) goods;
    (b) services;
    (c) money; or
    (d) anything else of value. See Utah Code 13-32a-102
    (2)  A pawn or secondhand business may not purchase or pawn a gift card or transaction card.

    (3)  This chapter does not prohibit a pawn or secondhand business from issuing or accepting as payment a gift card that:

    (a)  is issued solely by the pawn or secondhand business; and

    (b)  bears the brand or name of the pawn or secondhand business.

    Enacted by Chapter 309, 2019 General Session