| |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to the statute of limitations for an action on a credit |
|
|
card account. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Section 16.004(c), Civil Practice and Remedies |
|
|
Code, is amended to read as follows: |
|
|
(c) A person must bring suit against the person's [his] |
|
|
partner for a settlement of partnership accounts, and must bring an |
|
|
action on an open, [or] stated, or credit card account, or on a |
|
|
mutual and current account concerning the trade of merchandise |
|
|
between merchants or their agents or factors, not later than four |
|
|
years after the day that the cause of action accrues. For purposes |
|
|
of this subsection, the cause of action accrues on the day that the |
|
|
dealings in which the parties were interested together cease, or in |
|
|
the case of a credit card account, the 180th day after the date of |
|
|
the last payment on the account. |
|
|
SECTION 2. The change in law made by this Act applies only |
|
|
to the limitations period for an action on a credit card account on |
|
|
which a payment or charge is made on or after the effective date of |
|
|
this Act. The limitations period for an action on a credit card |
|
|
account on which a payment or charge is not made on or after the |
|
|
effective date of this Act is governed by the law in effect |
|
|
immediately before the effective date of this Act, and that law is |
|
|
continued in effect for that purpose. |
|
|
SECTION 3. This Act takes effect September 1, 2015. |