Garrity Fun-Tastick LED Glo-lite is a battery powered stick. http://www.garritylites.com/page77.html
They cost about $3.00 or so, but you can turn them on and off. Don't know about expiration dates, but since they use Lithium batteries they should last for a long time. Since you can turn them on and off, you can always check to see if they are working.
As some one else mentioned, the best time to buy glow sticks is in the clearance section of grocery stores, wally world, drug stores or other places that sell Halloween stuff the day after Halloween. I picked up some of the Garrity sticks cheap like that.
They work about like a light stick. They are sealed and supposed to be waterproof. They run on batteries, but since they are sealed up, they are intended to be disposable. Supposed to burn for 24 hours, but I have not checked that out. Since they turn on and off, you can use one several time if you are not dropping them down dark holes.