Title 8: Banking and Insurance
Chapter 81: GIFT CERTIFICATES
8 V.S.A. § 2703. Prohibited fees
§ 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 stored-value card equal to the lesser of:
(1) 10 percent of the face amount purchased or added to the stored-value card; or
(2) $10.00. (Added 2005, No. 39, § 1.)