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A BILL TO BE ENTITLED
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AN ACT
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relating to the statute of limitations for an action on a credit |
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card account. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subsection (c), Section 16.004, Civil Practice |
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and Remedies Code, is amended to read as follows: |
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(c) A person must bring suit against his partner for a |
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settlement of partnership accounts, and must bring an action on an |
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open, [or] stated, or credit card account, or on a mutual and |
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current account concerning the trade of merchandise between |
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merchants or their agents or factors, not later than four years |
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after the day that the cause of action accrues. For purposes of |
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this subsection, the cause of action accrues on the day that the |
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dealings in which the parties were interested together cease or, in |
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the case of a credit card account, the date the account was charged |
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off. |
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SECTION 2. The change in law made by this Act applies only |
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to the limitations period for an action on a credit card account on |
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which a payment or charge is made on or after the effective date of |
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this Act. The limitations period for an action on a credit card |
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account on which a payment or charge is not made on or after the |
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effective date of this Act is governed by the law in effect |
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immediately before the effective date of this Act, and that law is |
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continued in effect for that purpose. |
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SECTION 3. This Act takes effect September 1, 2013. |