Business & Commerce Code § 604.002

Sec. 604.002. INAPPLICABILITY OF CHAPTER. This chapter does not apply to a stored value card that: (1) is issued by: (A) a financial institution acting as a financial agent of the United States or this state; (B) a federally insured financial institution, as defined by Section 201.101, Finance Code, if the financial institution is primarily liable for the card as the issuing principal; or (C) an air carrier holding a certificate of public convenience and necessity under Title 49, United States Code; (2) is issued as a prepaid calling card by a prepaid calling card company regulated under Section 55.253, Utilities Code; (3) is distributed by the issuer to a person under an awards, rewards, loyalty, incentive, rebate, or promotional program and is not issued or reloaded in exchange for money tendered by the cardholder; (4) is sold below face value or donated to: (A) an employee of the seller or issuer; (B) a nonprofit or charitable organization; or (C) an educational institution for fund-raising purposes; or (5) does not expire and for which the seller does not charge a fee other than a fee described in Section 604.051. Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.