This bill establishes new legal definitions and offenses related to gift cards and gift certificates in Oklahoma. It defines key terms such as "cardholder," "gift card," "gift certificate," "issuer," and "redemption information." The bill outlines various fraudulent activities associated with gift cards and gift certificates, including acquiring or retaining possession without consent, altering or tampering with these items, and devising schemes to obtain redemption information through deceitful means. Penalties for these offenses include larceny, forgery in the third degree, and fraud, with specific punishments outlined based on the value of the items involved.

Additionally, the bill specifies that if the value of goods or services obtained through fraudulent use of a gift card exceeds $950 within a six-month period, the offense will be classified as grand larceny. The new law is set to be codified as Section 1740.3 of Title 21 in the Oklahoma Statutes and will take effect on November 1, 2026.