Tex. Fin. Code § 125.404 · Subchapter E. THIRD-PARTY CLAIMS AND OTHER RIGHTS RELATING TO ACCOUNTS
LIENS AND SETOFFS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) To the extent of a member's direct or indirect indebtedness to a credit union, the credit union has:
(1) a lien, enforceable with or without judicial process, on the member's shares and deposits, accumulated dividends, and interest; and
(2) a right to set off against the member's shares, deposits, accumulated dividends, and interest.
(b) A credit union may allow a withdrawal to be made without affecting the credit union's right to a setoff or lien.
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.125.htm
- Text hash
- sha256 f691ced3d86cadbb322cb3fa936c45b1ad77502424c438b291b89388c0f28a68
- 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
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.