The Vermont Statutes Online
The Vermont Statutes Online have been updated to include the actions of the 2023 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Title 8 : Banking and Insurance
Chapter 081 : Gift Certificates
(Cite as: 8 V.S.A. § 2703)-
§ 2703. Prohibited fees
(a) Dormancy fees, latency fees, issuance fees, redemption fees, or any other administrative fees or service charges in connection with a gift certificate are prohibited.
(b) Notwithstanding subsection (a) of this section, a money transmitter licensed under chapter 79 of this title, financial institution, or credit union may charge a one-time fee upon the issuance of a prepaid access card that is reasonably related to the cost to the issuer of issuing the card, provided that in no event shall the fee exceed $10.00. (Added 2005, No. 39, § 1; amended 2019, No. 20, § 65; 2019, No. 103 (Adj. Sess.), § 11.)
