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Texas Business and Commerce Code - BUS & COM § 604.002. Inapplicability of Chapter

Current as of January 01, 2024 | Updated by Findlaw Staff

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.

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Cite this article: FindLaw.com - Texas Business and Commerce Code - BUS & COM § 604.002. Inapplicability of Chapter - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-and-commerce-code/bus-com-sect-604-002/

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