Tex. Bus. & Com. Code § 604.052

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 604.052 - Fees or Charges That Decrease Unredeemed Balance of Card

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.

Tex. Bus. and Comm. Code § 604.052

Added by Acts 2007, 80th Leg., R.S., Ch. 885, Sec. 2.01, eff. 4/1/2009.