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A BILL TO BE ENTITLED
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AN ACT
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relating to the redemption of certain stored value cards, including |
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gift cards, for cash. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 604, Business & Commerce Code, is |
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amended by adding Subchapter D to read as follows: |
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SUBCHAPTER D. REDEMPTION OF CERTAIN LOW-VALUE CARDS |
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Sec. 604.151. APPLICABILITY OF SUBCHAPTER. (a) This |
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subchapter does not apply to a stored value card: |
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(1) described by Sections 604.002(1)-(3); |
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(2) issued as a refund for merchandise returned |
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without a receipt; or |
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(3) that has an initial value of $5 or less and to |
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which additional value cannot be added. |
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(b) Except as otherwise provided by Subsection (a), Section |
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604.002 does not apply to this subchapter. |
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Sec. 604.152. CASH REFUND FOR LOW-VALUE CARD. If a stored |
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value card is redeemed in person to make a purchase and a balance of |
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less than $2.50 remains following the redemption, at the consumer's |
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request the seller shall refund the balance of the card in cash to |
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the consumer. |
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SECTION 2. This Act takes effect September 1, 2015. |