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

Texas Senate Bill 1463 (Prior Session Legislation)

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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