Texas Business & Commerce Code

§ 604.001 — DEFINITION OF STORED VALUE CARD

BC § 604.001Title 12. RIGHTS AND DUTIES OF CONSUMERS AND MERCHANTS · Ch. 604. SALE OR ISSUANCE OF STORED VALUE CARD · Art. A. GENERAL PROVISIONS

Statute text

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In this chapter, "stored value card":

(1)means a record, as defined by Section 322.002, including a record that contains a microprocessor chip, magnetic strip, or other means of storing information:

(A)that evidences a promise made for monetary consideration by the seller or issuer of the record that goods or services will be provided to the owner of the record in the value shown in the record;

(B)that is prefunded; and

(C)the value of which is reduced on redemption; and

(2)includes a gift card or gift certificate.

Legislative history

Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.