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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) A person who uses an employer's evidence of indebtedness shall, on the demand for redemption and presentation of the employer's evidence of indebtedness by the holder on a regular payday, redeem the employer's evidence of indebtedness:
(1) for United States currency; and
(2) at the face value of the employer's evidence of indebtedness.
(b) The face value of an employer's evidence of indebtedness is currency equal to the cash value of the purchasing power in merchandise at the commissary or other repository of the person.
Cite this article: FindLaw.com - Texas Labor Code - LAB § 64.002. Redemption of Evidence of Indebtedness - last updated January 01, 2024 | https://codes.findlaw.com/tx/labor-code/lab-sect-64-002/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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