(1) Except as provided in RCW 19.240.030 through 19.240.070, it is unlawful for any person or entity to issue, or to enforce against a bearer, a gift certificate that contains:

     (a) An expiration date;

     (b) Any fee, including a service fee; or

     (c) A dormancy or inactivity charge.

     (2) If a gift certificate is issued with the sale of tangible personal property or services, the gift certificate is subject to subsection (1) of this section.

     (3) If a purchase is made with a gift certificate for an amount that is less than the value of the gift certificate, the issuer must make the remaining value available to the bearer in cash or as a gift certificate at the option of the issuer. If after the purchase the remaining value of the gift certificate is less than five dollars, the gift certificate must be redeemable in cash for its remaining value on demand of the bearer. A gift certificate is valid until redeemed or replaced.

     (4) This section does not require, unless otherwise required by law, the issuer of a gift certificate to replace a lost or stolen gift certificate.

[2004 c 168 § 3.]