Sec. 622.052. PRIZE VALUE LESS THAN $50,000. (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.
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.
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