Texas Business and Commerce Code 761.052 – Restriction On Gifts or Incentives for Completing Credit Card Application
Current as of: 2024 | Check for updates
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Terms Used In Texas Business and Commerce Code 761.052
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
A credit card issuer may not offer a gift or other incentive in exchange for the completion of a credit card application as part of a campus credit card marketing activity unless the credit card issuer, at the time the credit card issuer provides a credit card application to an individual, provides financial educational material developed under Section 761.101 to the individual.