Tex. Est. Code § 113.208 · Subchapter E. PROTECTION OF FINANCIAL INSTITUTIONS
LIABILITY FOR PAYMENT FROM CONVENIENCE ACCOUNT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A financial institution is completely released from liability for a payment made from a convenience account before the financial institution receives notice in writing signed by a party not to make the payment in accordance with the terms of the account. After receipt of the notice from a party, the financial institution may require a party to approve any further payments from the account.
(b) A financial institution that makes a payment of the sums on deposit in a convenience account to a convenience signer after the death of the last surviving party, but before the financial institution receives written notice of the last surviving party's death, is completely released from liability for the payment.
(c) A financial institution that makes a payment of the sums on deposit in a convenience account to the personal representative of the deceased last surviving party's estate after the death of the last surviving party, but before a court order prohibiting payment is served on the financial institution, is, to the extent of the payment, released from liability to any person claiming a right to the funds. The personal representative's receipt of the funds is a complete release and discharge of the financial institution.
Notes and commentary — not statutory text
History
Added by Acts 2009, 81st Leg., R.S., Ch. 680, Sec. 1, eff. January 1, 2014.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/ES/htm/ES.113.htm
- Text hash
- sha256 e56b1b9f8f4538392e3689e631d9b8461ba50eada2cfeb8622d81e89550fd6ea
- 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
Cited by 1 provision
Provisions in this library whose text cites Tex. Est. Code § 113.208. Each shows the citation as that text prints it.
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