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§ 43-41B-43 Certain gift certificates and closed-loop prepaid cards exempt.

SD Codified L § 43-41B-43 (2019) (N/A)
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43-41B-43. Certain gift certificates and closed-loop prepaid cards exempt. The provisions of this chapter do not apply to any gift certificate or closed-loop prepaid card that has no expiration date and that is not subject to a dormancy, inactivity, or service fee. For purposes of this chapter, a closed-loop prepaid card is an electronic payment device that meets the following conditions:

(1) Is purchased or loaded, or both, on a prepaid basis in exchange for payment for the future purchase or delivery of goods or services; and

(2) Is redeemable upon presentation to a single merchant or an affiliated group of merchants for goods and services.Source: SL 2011, ch 198, § 1.

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§ 43-41B-42 Unredeemed gift certificates, closed-loop cards, open-loop cards, and rewards cards not subject to state claim.
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§ 43-41B-44 United States savings bonds.