Leawood, Kan. – January 6, 2023: On December 22, 2022, New York Senate Bill 145B (“SB 145B”) and the twin bill Assembly Bill 266A (“AB 266A”; together, the “Twin Bills”) were signed by the Governor. The Twin Bills will require the posting of signage on and after June 20, 2023. NY GEN BUS § 396-I § 2-b.
As you may recall, the Twin Bills and now the law will require signage either where gift cards are displayed or at the point-of-sale warning of potential scams involving gift cards. Specifically the new law states: “No person, firm, partnership, association or corporation shall sell a gift certificate to a purchase unless the seller displays a conspicuous notice at or near where the gift certificate is displayed or at or near the physical location where the sale occurs, that (I) cautions that purchaser about prepaid card scams, and (II) instructs the purchaser on what to do if they suspect they might be a potential victim of such a scam.” Id.
To read SB145B click here: New York Senate Bill S145B. To read New York Assembly Bill 266 click here: New York AB 266A.
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