Bill Text: MA H3870 | 2009-2010 | 186th General Court | Introduced

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Bill Title: Further regulating the sale of gift certificates

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2009-01-20 - Public Hearing date 5/12 at 10:00 AM in Hearing Room B2 [H3870 Detail]

Download: Massachusetts-2009-H3870-Introduced.html

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The Commonwealth of Massachusetts

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PRESENTED BY:

Pam Richardson

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To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
                Court assembled:

                The undersigned legislators and/or citizens respectfully petition for the passage of the accompanying bill:

An Act further regulating the sale of gift certificates.

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PETITION OF:

 

Name:	District/Address:
Pam Richardson	6th Middlesex

 

The Commonwealth of Massachusetts

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In the Year Two Thousand and Nine

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An Act further regulating the sale of gift certificates.

                Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

SECTION 1.  Chapter 255 D of the General Laws is hereby amended by adding the following section:-

            Section 33.  The commission shall assess a fee to be determined by him on all sellers of gift certificates in the commonwealth.  Said fees shall be deposited in a bank escrow fund separate from all others assets of the seller.  Said funds shall be used to reimburse holders of such certificates if the issue of the certificate goes out of business.       

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