myvariable=Gift card defined § 367.890(1) Gift card means a certificate, electronic card, or other medium issued by a merchant that evidences the giving of consideration in exchange for the right to redeem the certificate, electronic card, or other medium for goods, food, services, credit, or money of at least an equal value...where the issuer has received payment for the full monetary value for the future purchase or delivery of goods or services...does not include bank cards...promotional programs, multiple unafilliated merchants... Gift card § 367.890(2) ...no person or entity shall sell a gift card containing an expiration date that is less than one (1) year after the date the gift card is issued. Gift card § 367.890(3) No person or entity shall charge service charges or fees relative to that gift card, including dormancy fees, latency fees, or administrative fees, that have the effect of reducing the total amount for which the holder of the gift card may redeem the giftcard until the expiration date on the card has expired. Gift card § 367.890(4) A gift card sold without an expiration date printed on the front or back of the card is valid until redeemed or replaced with a new gift card. Gift card § 367.890(5),(a) - (c) If the expiration date on the card is not less than one hundred twenty (120) days from the date of issue, subsection (2) of this section does not apply to any of the following gift cards: non-profit, charity, or employee to employee for that business. Updated August 2010: Section (5) no longer exempts cards given away for promotional, awards, or loyalty programs so these cards cannot have expiration dates of less than one year. § 244.105 Gift card for alcohol redeemed by adults 21 and over.