Tex. Fin. Code § 125.405 · Subchapter E. THIRD-PARTY CLAIMS AND OTHER RIGHTS RELATING TO ACCOUNTS
ACCOUNT WITHDRAWALS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A credit union may require not longer than 60 days' notice for a withdrawal from a share or deposit account.
(b) The commissioner may impose an advance withdrawal notice requirement following issuance of a cease and desist order under Chapter 122. The commissioner by rule may require that a requirement imposed under this subsection apply to all members of the credit union.
(c) A membership share may not be withdrawn unless membership in the credit union is terminated.
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 d82ce8ad2692c4bfbe2053f770f35d5ea0286ab0700593145148d247fee13606
- 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.