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Can you summarize Tex. Bus. & Com. Chapter 604A?
RIGHTS AND DUTIES OF CONSUMERS AND MERCHANTS > PROHIBITION OF CERTAIN SURCHARGES
Short Summary
This legal document governs the prohibition of certain surcharges in credit, debit, and stored value card transactions. It applies to cardholders, merchants, and buyers involved in the sale or lease of goods or services. The document defines key terms such as ‘cardholder’, ‘credit card’, ‘debit card’, ‘merchant’, ‘stored value card’, and ‘surcharge’. A surcharge is defined as an increase in the price charged for goods or services imposed on a buyer who pays with a credit, debit, or stored value card, but not on a buyer who pays with cash. The document does not include discounted prices charged to buyers who pay with cash. The exemptions to this prohibition include state agencies, counties, local governmental entities, and other governmental entities that accept debit or stored value cards for the payment of fees, taxes, or other charges. Additionally, private schools that accept debit cards for the payment of fees or other charges, as provided by Section 111.002, Business & Commerce Code, are also exempted. No specific penalties are mentioned in this document.
Whom does it apply to?
Cardholders, merchants, and buyers involved in the sale or lease of goods or services
What does it govern?
Prohibition of certain surcharges in credit, debit, and stored value card transactions
What are exemptions?
State agencies, counties, local governmental entities, other governmental entities accepting debit or stored value cards for payment of fees, taxes, or other charges; private schools accepting debit cards for payment of fees or other charges
What are the Penalties?
No specific penalties are mentioned
Jurisdiction
Texas