California CodesBusiness and Professions Code - BPCDivision 7 — General Business RegulationsPart 3 — Representations to the PublicChapter 3 — Trading Stamp Company ActSection 17762
Any trading stamp company shall redeem upon presentation any trading stamp that it has issued, either in merchandise, service, or cash, at the option of the rightful holder. However, if the trading stamp company only offers to redeem the trading stamp in cash, the rightful holder of the trading stamp shall not have the option of receiving merchandise or service and shall only receive a cash redemption. Trading stamps shall only be presented for redemption in cash in an amount aggregating not less than one dollar ($1).
Notes
Requires a trading stamp company to redeem its issued stamps, at the rightful holder’s option, for merchandise, service, or cash. If the company offers only cash redemption, merchandise or service need not be offered, and stamps may be presented for cash redemption only when their aggregate value is at least $1.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 17762 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-7/part-3/chapter-3/section-17762