Tex. Business & Commerce Code § 604.001
This is the official text of Tex. Business & Commerce Code § 604.001, part of Texas’s Business & Commerce Code — governs commercial transactions and general business practices.
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§ 604.001. DEFINITION OF STORED VALUE CARD.
Official statutory text
In this chapter, "stored value card":
(1) means a record, as defined by Section 322.002, including a record that contains a microprocessor chip, magnetic strip, or other means of storing information:
(A) that evidences a promise made for monetary consideration by the seller or issuer of the record that goods or services will be provided to the owner of the record in the value shown in the record;
(B) that is prefunded; and
(C) the value of which is reduced on redemption; and
(2) includes a gift card or gift certificate.
(1) means a record, as defined by Section 322.002, including a record that contains a microprocessor chip, magnetic strip, or other means of storing information:
(A) that evidences a promise made for monetary consideration by the seller or issuer of the record that goods or services will be provided to the owner of the record in the value shown in the record;
(B) that is prefunded; and
(C) the value of which is reduced on redemption; and
(2) includes a gift card or gift certificate.
Status: in_force · Read it on the official government site
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