Texas Business and Commerce Code 621.052 – Required Disclosures Relating to Gifts
Current as of: 2024 | Check for updates
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(a) An offeror who notifies a person that the person will receive a gift shall, at the time of the notification, clearly and conspicuously disclose:
(1) that attendance at a sales presentation is required;
(2) the approximate duration of the sales presentation; and
(3) a description of the product or service being sold.
(b) A person shall disclose:
(1) the retail value of a gift; and
(2) clearly and conspicuously in at least 10-point type that airfare, lodging, or both are not included as part of a gift that is a trip or recreational activity to the extent that either or both are not included.
Terms Used In Texas Business and Commerce Code 621.052
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005