Bill Text: TX SB1463 | 2011-2012 | 82nd Legislature | Comm Sub


Bill Title: Relating to the processing fee charged for a dishonored payment device.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2011-04-28 - Removed from local & uncontested calendar [SB1463 Detail]

Download: Texas-2011-SB1463-Comm_Sub.html
 
 
  By: Hinojosa  S.B. No. 1463
         (In the Senate - Filed March 10, 2011; March 22, 2011, read
  first time and referred to Committee on Business and Commerce;
  April 19, 2011, reported favorably by the following vote:  Yeas 8,
  Nays 0; April 19, 2011, sent to printer.)
 
 
A BILL TO BE ENTITLED
 
AN ACT
 
  relating to the processing fee charged for a dishonored payment
  device.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subsection (b), Section 3.506, Business &
  Commerce Code, is amended to read as follows:
         (b)  On return of a payment device to the holder following
  dishonor of the payment device by a payor, the holder, the holder's
  assignee, agent, or representative, or any other person retained by
  the holder to seek collection of the face value of the dishonored
  payment device may charge the drawer or indorser a maximum
  [reasonable] processing fee of [not more than] $30.
         SECTION 2.  This Act takes effect September 1, 2011.
 
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