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

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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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-Introduced.html

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82R7633 ATP-F
By: Hinojosa S.B. No. 1463

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. Section 3.506(b), 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.