(a) A trading stamp company may not do business as a trading stamp company in the State unless:
(1) a rightful holder may redeem trading stamps for cash if the trading stamps have a total cash value of at least 25 cents; and
(2) the cash redemption value of the trading stamps is at least equal to the highest cash redemption value that the trading stamp company offers in any other jurisdiction.
(b) (1) Each trading stamp collection book shall contain a notice that states:
“If the total cash value of your trading stamps is at least 25 cents, they may be redeemed for cash instead of goods.
The cash value of a filled book of trading stamps is at least $(cash value to be stated)”.
(2) The notice shall be printed in 12 point or larger type on the inside front cover of the book.
(3) The trading stamp company shall display the same notice conspicuously at each place where the trading stamp company redeems trading stamps.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.