Prize Value Less Than $50,000

Sec. 622.052. PRIZE VALUE LESS THAN $50,000. (a) This chapter does not apply to a sweepstakes in which the value of the most valuable prize is less than $50,000. (b) For purposes of this section, the value of a prize is the greatest of the prize's: (1) face value; (2) fair market value; or (3) present financial value. Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.