HOUSE BILL NO. 54
AS AMENDED BY HOUSE AMENDMENT NO. 1
AN ACT TO AMEND TITLE 12 OF THE DELAWARE CODE RELATED TO ESCHEAT OF UNREDEEMED GIFT CERTIFICATES.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE :
Section 1. Amend § 1199(g), Title 12 of the Delaware Code, adding at the end of said subsection after the symbol and figure “$5,000” and before the period “.” the following phrase: “or for gift certificates having a face value of $5.00 or under issued by a holder whose business is described in § 2906 of Title 30 whether or not such firm conducts business in this state”.
Section 2. Amend § 1198(10), Title 12 of the Delaware Code, by adding after the phrase ‘whatsoever kind of character.’ and before the last sentence of said subsection that following sentence:
“For purposes of this subsection, the phrase ‘amounts received in consideration for gift certificates’ shall not include amounts received in consideration for gift certificates having a face value of $5.00 or less and which are issued by a holder whose business is described in § 2906 of Title 30 whether or not such holder conducts such business within this State.”
Section 3. This Act shall be effective for gift certificates issued on or after January 1, 1994.
Approved June 14,1999