More New Gift Card Laws

Maine’s new gift card laws (article), allows anyone to cash out gift cards with a balance of less than $5.

Michigan’s new law (article) states that gift cards must be valid for a minimum of 5 years, issuers may not charge inactivity fees or other service fees, must not alter the gift cards terms & conditions after it is issued, and must not fail to disclose the terms & conditions.

It is unclear whether either of these new laws appy to open-loop (Visa, Mastercard type) gift cards. Most state laws for gift cards do not apply to these type of cards.