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Texas Senate Bill SB397

Texas 2013 - 83rd Regular

Texas Senate Bill SB397 Compare Versions

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11 By: Duncan S.B. No. 397
22 (In the Senate - Filed February 5, 2013; February 13, 2013,
33 read first time and referred to Committee on State Affairs;
44 February 27, 2013, reported favorably by the following vote:
55 Yeas 8, Nays 0; February 27, 2013, sent to printer.)
66
77
88 A BILL TO BE ENTITLED
99 AN ACT
1010 relating to the statute of limitations for an action on a credit
1111 card account.
1212 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1313 SECTION 1. Subsection (c), Section 16.004, Civil Practice
1414 and Remedies Code, is amended to read as follows:
1515 (c) A person must bring suit against his partner for a
1616 settlement of partnership accounts, and must bring an action on an
1717 open, [or] stated, or credit card account, or on a mutual and
1818 current account concerning the trade of merchandise between
1919 merchants or their agents or factors, not later than four years
2020 after the day that the cause of action accrues. For purposes of
2121 this subsection, the cause of action accrues on the day that the
2222 dealings in which the parties were interested together cease or, in
2323 the case of a credit card account, the date the account was charged
2424 off.
2525 SECTION 2. The change in law made by this Act applies only
2626 to the limitations period for an action on a credit card account on
2727 which a payment or charge is made on or after the effective date of
2828 this Act. The limitations period for an action on a credit card
2929 account on which a payment or charge is not made on or after the
3030 effective date of this Act is governed by the law in effect
3131 immediately before the effective date of this Act, and that law is
3232 continued in effect for that purpose.
3333 SECTION 3. This Act takes effect September 1, 2013.
3434 * * * * *