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A BILL TO BE ENTITLED
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AN ACT
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relating to the processing fee charged for a dishonored payment |
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device. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 3.506(b), Business & Commerce Code, is |
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amended to read as follows: |
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(b) On return of a payment device to the holder following |
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dishonor of the payment device by a payor, the holder, the holder's |
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assignee, agent, or representative, or any other person retained by |
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the holder to seek collection of the face value of the dishonored |
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payment device may charge the drawer or indorser a maximum |
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[reasonable] processing fee of [not more than] $30. |
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SECTION 2. This Act takes effect September 1, 2011. |