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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