§ 33-21.1-14 Gift certificates and creditmemos. – (a) A credit memo issued by a business association that remains unredeemed formore than three (3) years after issuance is presumed abandoned. Pursuant to§ 6-13-12, gift certificates shall not be presumed to be abandoned.
(b) In the case of a credit memo, the amount presumedabandoned is the amount credited as shown in the memo itself.
(c) The amount of a credit memo presumed abandoned is subjectto the custody of this state in the following circumstances:
(1) The records of the issuer show that the last knownaddress of the recipient of the memo is in this state;
(2) The records of the issuer do not show the address of thepurchaser or recipient, but do show that the certificate or memo was issued inthis state;
(3) The records of the issuer do not show the address of therecipient and do not show the state where the memo was issued and the issuerhas its principal place of business in this state;
(4) The records of the issuer show that the address of therecipient, or if none, the state where the memo was issued, is in or is a statewhose escheat or unclaimed property law does provide for the escheat orcustodial taking of credit memos, and the issuer has its principal place ofbusiness in this state.
(d) Commencing on July 1, 1992, a business associationissuing a credit memo in this state shall have a duty to record either the nameand address of a recipient of a credit memo or the state in which the memo wasissued.
§ 33-21.1-14 Gift certificates and creditmemos. – (a) A credit memo issued by a business association that remains unredeemed formore than three (3) years after issuance is presumed abandoned. Pursuant to§ 6-13-12, gift certificates shall not be presumed to be abandoned.
(b) In the case of a credit memo, the amount presumedabandoned is the amount credited as shown in the memo itself.
(c) The amount of a credit memo presumed abandoned is subjectto the custody of this state in the following circumstances:
(1) The records of the issuer show that the last knownaddress of the recipient of the memo is in this state;
(2) The records of the issuer do not show the address of thepurchaser or recipient, but do show that the certificate or memo was issued inthis state;
(3) The records of the issuer do not show the address of therecipient and do not show the state where the memo was issued and the issuerhas its principal place of business in this state;
(4) The records of the issuer show that the address of therecipient, or if none, the state where the memo was issued, is in or is a statewhose escheat or unclaimed property law does provide for the escheat orcustodial taking of credit memos, and the issuer has its principal place ofbusiness in this state.
(d) Commencing on July 1, 1992, a business associationissuing a credit memo in this state shall have a duty to record either the nameand address of a recipient of a credit memo or the state in which the memo wasissued.
§ 33-21.1-14 Gift certificates and creditmemos. – (a) A credit memo issued by a business association that remains unredeemed formore than three (3) years after issuance is presumed abandoned. Pursuant to§ 6-13-12, gift certificates shall not be presumed to be abandoned.
(b) In the case of a credit memo, the amount presumedabandoned is the amount credited as shown in the memo itself.
(c) The amount of a credit memo presumed abandoned is subjectto the custody of this state in the following circumstances:
(1) The records of the issuer show that the last knownaddress of the recipient of the memo is in this state;
(2) The records of the issuer do not show the address of thepurchaser or recipient, but do show that the certificate or memo was issued inthis state;
(3) The records of the issuer do not show the address of therecipient and do not show the state where the memo was issued and the issuerhas its principal place of business in this state;
(4) The records of the issuer show that the address of therecipient, or if none, the state where the memo was issued, is in or is a statewhose escheat or unclaimed property law does provide for the escheat orcustodial taking of credit memos, and the issuer has its principal place ofbusiness in this state.
(d) Commencing on July 1, 1992, a business associationissuing a credit memo in this state shall have a duty to record either the nameand address of a recipient of a credit memo or the state in which the memo wasissued.
