Bill Text: TX SB397 | 2013-2014 | 83rd Legislature | Engrossed


Bill Title: Relating to the statute of limitations for an action on a credit card account.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Engrossed - Dead) 2013-05-06 - Left pending in committee [SB397 Detail]

Download: Texas-2013-SB397-Engrossed.html
 
 
  By: Duncan S.B. No. 397
 
 
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.  Subsection (c), Section 16.004, Civil Practice
  and Remedies Code, is amended to read as follows:
         (c)  A person must bring suit against 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 date the account was charged
  off.
         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, 2013.
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