Texas Business & Commerce Code

§ 622.052 — PRIZE VALUE LESS THAN $50,000

BC § 622.052Title 13. CONTESTS AND OTHER PROMOTIONS · Ch. 622. SWEEPSTAKES · Art. B. APPLICABILITY OF CHAPTER

(a)This chapter does not apply to a sweepstakes in which the value of the most valuable prize is less than $50,000.

(b)For purposes of this section, the value of a prize is the greatest of the prize's:

(1)face value;

(2)fair market value; or

(3)present financial value.

Legislative history

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