Texas Business & Commerce Code

§ 604.052 — FEES OR CHARGES THAT DECREASE UNREDEEMED BALANCE OF CARD

BC § 604.052Title 12. RIGHTS AND DUTIES OF CONSUMERS AND MERCHANTS · Ch. 604. SALE OR ISSUANCE OF STORED VALUE CARD · Art. B. PERMISSIBLE FEES

Statute text

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The issuer of a stored value card may impose or collect a periodic fee or other charge that causes the unredeemed balance of the card to decrease over time only if the fee:

(1)is reasonable;

(2)is not assessed until after the first anniversary of the date the card is sold or issued; and

(3)is disclosed as required by Subchapter C.

Legislative history

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