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Oregon

Recent State Gift Card Policy Changes Are All Over the Map

February 23, 2015 By Michael Giovannini

Oregon Invites Litigation The Oregon Legislature recently introduced legislation that would reestablish gift cards as a type of unclaimed property reportable to Oregon.  [https://olis.leg.state.or.us/liz/2015R1/Measures/Overview/HB2543]  The state previously amended its act to delete all references to gift cards.  Under HB 2543, the value of a gift card will be reportable as unclaimed property if it has not been redeemed for 3 years.  Oregon thus re-joins the minority of states that require the escheat of gift cards. Most significantly, however, HB 2543 provides that if the issuer of [...]Read more

Filed Under: Unclaimed Property Advisory Tagged With: Gift cards, New Jersey, Oregon, State legislation, Tennessee, Unclaimed property

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