Section 604.002 - Inapplicability of Chapter This chapter does not apply to a stored value card that:
(1) is issued by: (A) a financial institution acting as a financial agent of the United States or this state;(B) a federally insured financial institution, as defined by Section 201.101, Finance Code, if the financial institution is primarily liable for the card as the issuing principal; or(C) an air carrier holding a certificate of public convenience and necessity under Title 49, United States Code;(2) is issued as a prepaid calling card by a prepaid calling card company regulated under Section 55.253, Utilities Code;(3) is distributed by the issuer to a person under an awards, rewards, loyalty, incentive, rebate, or promotional program and is not issued or reloaded in exchange for money tendered by the cardholder;(4) is sold below face value or donated to: (A) an employee of the seller or issuer;(B) a nonprofit or charitable organization; or(C) an educational institution for fund-raising purposes; or(5) does not expire and for which the seller does not charge a fee other than a fee described in Section 604.051.Tex. Bus. and Comm. Code § 604.002
Added by Acts 2007, 80th Leg., R.S., Ch. 885, Sec. 2.01, eff. 4/1/2009.