The bill amends Chapter 6-13 of the General Laws, titled "Unfair Sales Practices," by adding a new section, 6-13-12.2, which requires that any person, firm, or corporation selling gift certificates must place the funds received for these certificates into a separate account. These funds must be held in this separate account until the gift certificate is used or redeemed. Upon redemption, the funds can be transferred to the retailer's business account, but only in an amount equal to the value of the redeemed gift certificate. The bill also specifies that gift certificates distributed to consumers through rewards, loyalty, or promotional programs, without any monetary exchange from the consumer, are exempt from this requirement. The term "retailer" is defined in accordance with existing law. This legislation will take effect immediately upon passage.