Section 13-102 – Registration Required

    A person must be registered with the Secretary of State whenever the person does business as a trading stamp company in the State.

Section 13-103 – Statements of Registration

    (a)    On or before July 1 of each year, each trading stamp company shall:         (1)    submit to the Secretary of State:             (i)    a statement of registration;             (ii)    samples of its current trading stamps, trading stamp collection books, trading stamp redemption catalogues, and trading stamp distribution and redemption agreement forms;             (iii)    a short form of its balance sheet for its last […]

Section 13-104 – Bond

    (a)    The bond required by this subtitle shall be:         (1)    payable to the State;         (2)    conditioned that the trading stamp company shall redeem its trading stamps whenever rightful holders present them for redemption; and         (3)    executed by:             (i)    the trading stamp company; and             (ii)    a corporate surety qualified to do business in the State.     (b)    (1)    The amount of the bond shall be […]

Section 13-105 – Claims Against Bond

    (a)    (1)    If a trading stamp company fails to redeem its trading stamps, each rightful holder of its trading stamps may make a claim against the bond in accordance with this section.         (2)    For purposes of this section, a rightful holder includes a retailer that rightfully holds trading stamps for issuance to customers.     (b)    The claim shall be submitted […]

Section 13-106 – Optional Redemption for Cash

    (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 […]

Section 13-107 – Notice of Place for Redemption

    Each retailer shall display conspicuously at each place where the retailer issues trading stamps the address of the nearest place where the trading stamps may be redeemed.

Section 13-108 – End or Suspension of Redemption of Trading Stamps

    At least 90 days before a trading stamp company ends or suspends the redemption of trading stamps in the State, the trading stamp company shall:         (1)    notify the Secretary of State in writing of its intention to end or suspend the redemption of trading stamps; and         (2)    mail a copy of the notice to each retailer in […]

Section 13-109 – Fraud, False Representation, or Lottery Prohibited

    While doing business as a trading stamp company in the State, a trading stamp company may not:         (1)    commit fraud;         (2)    make a false representation; or         (3)    use a lottery.

Section 13-110 – Penalty

    A person who violates this title is guilty of a misdemeanor and, on conviction, is subject to a fine not exceeding $1,000.