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Fee Schedule Amendment
Question: As part of our year end review, we are looking at our fee schedule. What must we do to amend it?
Answer: State law permits you to unilaterally amend deposit contracts by sending out a 30 day advance notice. (Section 34.302 of Finance Code) This applies to commercial as well as consumer contracts in Texas. If you include the change as a statement stuffer, be sure to allow plenty of time for all customers to receive 30 days notice before implementing the change.
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Comments & Questions
If you would like
to comment on legislative topics or if you have questions about this
information please call our public affairs expert, Mae Beth Palone at
(800) 749-4228 or E-mail mbpalone@ibat.org.
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