USA Gift Cards and Escheatment Laws in TX

Oct 17, 2023
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United States
I found these statues dealing with this. I find the language unclear whether unredeemed gift card balance that have expired need to be paid to the State. This is the part of the language I find confusing:

Sec. 72.1016. STORED VALUE CARD.
(c) If the person who sells or issues a stored value card in this state does not obtain the name and address of the apparent owner of the card and maintain a record of the owner's name and address and the identification number of the card, the address of the apparent owner is considered to be the Austin, Texas, address of the comptroller.

Thanks in advance to anyone who knows Texas laws well.

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