§ 396-i. Acceptance of unexpired gift certificates. 1. (a) For the\npurposes of this section, the following terms shall have the following\nmeanings:\n (1) "gift certificate" shall mean a certificate, electronic card, or\nother pre-funded record that: (i) is usable at a single merchant or an\naffiliated group of merchants that share the same name, mark, or logo,\nor is usable at multiple, unaffiliated merchants or service providers;\nand (ii) is issued in a specified amount; and (iii) may or may not be\nincreased in value or reloaded; and (iv) is purchased and/or loaded on a\nprepaid basis for the future purchase or delivery of any goods or\nservices; and (v) is honored upon presentation;\n (2) "open loop gift certificate" shall mean a gift certificate\nredeemable at multiple, unaffiliated merchants or service providers; and\n (3) "promotional gift certificate" shall mean a gift certificate\nissued for no consideration which includes on the front of the gift\ncertificate (i) a statement indicating that the card is issued for\npromotional purposes and (ii) the expiration date for the underlying\nfunds.\n (b) Gift certificate shall not include (i) an electronic payment\ndevice linked to a deposit account or which is covered by the exclusion\nset forth in 15 U.S.C. § 1693 L-1(a)(2)(D)(ii), (ii) a fare payment card\nor electronic payment device used to pay for travel on a public\ntransportation authority system, or (iii) prepaid telephone calling\ncards regulated under section ninety-two-f of the public service law.\nGift certificate also shall not include flexible spending arrangements\nas defined in Section 106(c)(2) of the Internal Revenue Code, 26 U.S.C.\n§ 106(c)(2); flexible spending accounts subject to Section 125 of the\nInternal Revenue Code, 26 U.S.C. § 125; Archer MSAs as defined in\nSection 220(d) of the Internal Revenue Code, 26 U.S.C. § 220(d);\ndependent care reimbursement accounts subject to Section 129 of the\nInternal Revenue Code, 26 U.S.C. § 129; health savings accounts subject\nto Section 223(d) of the Internal Revenue Code, 26 U.S.C. § 223(d), as\namended by Section 1201 of the Medicare Prescription Drug, Improvement,\nand Modernization Act of 2003, Pub. L. No. 108-173; or similar accounts\nfrom which, under the Internal Revenue Code and its implementing\nregulations, individuals may pay medical expenses, health care expenses,\ndependent care expenses, or similar expenses on a pretax basis. Gift\ncertificate also shall not include a prepaid discount card or program\nused to purchase identified goods or services at a price or percentage\nbelow the normal and customary price; provided that any expiration date\nof the prepaid discount card or program is clearly and conspicuously\ndisclosed. Gift certificate also shall not include payroll cards or\nother electronic payment devices which are linked to a deposit account\nand which are given in exchange for goods or services rendered.\n 1-a. No person, firm, partnership, association or corporation who or\nwhich issues gift certificates or store credits, or who or which\nconducts a "closing out sale" or "defunct business sale" as such terms\nare defined in section five hundred eighty-one of this chapter, of the\nmerchandise of any such person, firm, partnership, association or\ncorporation, shall refuse to accept such gift certificate or store\ncredit in payment for goods or services used or bought for use primarily\nfor personal, family or household purposes, including, but not limited\nto, goods or services advertised on sale or pursuant to a liquidation or\nclose-out, provided that if the certificates or the terms of the store\ncredits limit the period of time during which they may be used, they are\npresented for redemption before the expiration of such period of time.\n 2. No person, firm, partnership, association or corporation who or\nwhich issues gift certificates or store credits, or who or which\nconducts a "closing out sale" or "defunct business sal
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