PRIZE VALUE LESS THAN $50,000
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff
(a) This chapter does not apply to a sweepstakes in which the value of the most valuable prize is less than $50,000.
(b) For purposes of this section, the value of a prize is the greatest of the prize's:
(1) face value;
(2) fair market value; or
(3) present financial value.
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.