Fees Or Charges That Decrease Unredeemed Balance of Card

Sec. 604.052. FEES OR CHARGES THAT DECREASE UNREDEEMED BALANCE OF CARD. The issuer of a stored value card may impose or collect a periodic fee or other charge that causes the unredeemed balance of the card to decrease over time only if the fee: (1) is reasonable; (2) is not assessed until after the first anniversary of the date the card is sold or issued; and (3) is disclosed as required by Subchapter C. Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009. SUBCHAPTER C. REQUIRED DISCLOSURES