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Gift Card Ratings
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Colorado Gift Card Law

Last updated on July 09, 2011
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Rating

What we like:

  • Post-sale fees not allowed
  • Gift cards are redeemable for cash if value is $5.00 or less
  • Colorado has legally specified whether or not gift cards escheat to the state

What could be better:

  • No limits on expiration dates
  • No legal definition of a gift card or gift certificate
  • Value will escheat to the state after 5 years of inactivity
  • Colorado does not maintain a consumer-centric web page dedicated to gift card laws

Heads up! ScripSmart attempts to make all information accurate. ScripSmart is only a guideline and does not provide definitive statements of the law. If you have questions about the law's application to a particular case, direct them to a specialist.

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Good to know for Colorado residents:

Gift Cards are not specifically defined in Colorado’s Unclaimed Property Act and are different from gift certificates per the Attorney General’s opinion.

When reporting gift cards as unclaimed property to the state of Colorado, a dedication for the first $25.00 of each gift card is allowed. However, a business must still report the gift card (and deduction) as unclaimed property, even if the balance is less than $25.00.

Last activity is any card holder initiated activity. (E.g, balance inquiry, partial redemption, reload.)


Last change in Colorado State law took effect on August 11, 2010

Colorado Attorney General Information

Attorney General: John Suthers (R)
Attorney.General@state.co.us
Phone: 303-866-4500
http://www.ago.state.co.us/index.cfm

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