Gift certificates: redemption.

Existing law provides that a gift certificate sold after January 1, 1997, is redeemable in cash or subject to replacement with a new gift certificate. Existing law also provides that a gift certificate with a cash value of less than $10 may be redeemed in cash, as defined, for its cash value. Existing law prohibits the sale of a gift certificate that contains a dormancy fee, subject to specified exceptions. This bill would delete those exceptions and expressly prohibit the sale of a gift certificate that contains a dormancy fee.