(1) It is lawful to issue, and to enforce against the bearer, a gift certificate containing an expiration date if:

     (a) The gift certificate is issued pursuant to an awards or loyalty program or in other instances where no money or other thing of value is given in exchange for the gift certificate.

     (b) The gift certificate is donated to a charitable organization without any money or other thing of value being given in exchange for the gift certificate if the gift certificate is used by a charitable organization solely to provide charitable services.

     (2) The expiration date must be disclosed clearly and legibly on any gift certificate described in subsection (1) of this section.

[2004 c 168 § 4.]