Tex. Bus. & Com. Code § 253.001 · Chapter 253. PROTESTED OUT-OF-STATE DRAFTS

DAMAGES ON PROTESTED OUT-OF-STATE DRAFTS.

Verbatim from the official edition

Text — Current through the 89th 2nd Called Legislative Session, 2025

The holder of a protested draft is entitled to damages in an amount equal to 10 percent of the amount of the draft, plus interest and the costs of suit, if:

(1) the draft was drawn by a merchant in this state on the merchant's agent or factor outside this state; and

(2) the drawer's or indorser's liability on the draft has been fixed.

Notes and commentary — not statutory text

History

Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.

Source of truth

Edition: Current through the 89th 2nd Called Legislative Session, 2025
Official file: https://statutes.capitol.texas.gov/Docs/BC/htm/BC.253.htm
Text hash: sha256 2575d1971e4c7eff936aa7870a50b27aab773991bc23d119536eb50813227fa9
Composed by: compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character

Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.