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Can you summarize Tex. Bus. & Com. Chapter 116?
BUSINESS OPERATIONS > FEES FOR CERTAIN PAYMENT METHODS
Short Summary
The provided legal document content governs the fees for certain payment methods. It applies to persons who make payments to payees. According to the document, a person making a payment to a payee is prohibited from charging an additional fee to the payee if the payee chooses to receive the payment by paper check instead of through an automated clearinghouse transaction or other electronic funds transfer. Any provision in a contract that allows a person to charge or collect a fee from a payee in violation of this prohibition is considered void and unenforceable. The document was added by Acts 2021, 87th Leg., R.S., Ch. 230 (H.B. 876) and became effective on September 1, 2021. No specific exemptions or penalties are mentioned in this document.
Whom does it apply to?
Persons making payments to payees
What does it govern?
Fees for certain payment methods
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Texas