Tex. Fin. Code § 125.503 · Subchapter F. SAFE DEPOSIT BOXES
ACCESS BY MORE THAN ONE PERSON.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In the absence of a contract to the contrary, a credit union shall allow each holder of a safe deposit box jointly held in the name of two or more persons or a person other than the lessee designated in the lease agreement:
(1) access to the box; and
(2) removal of its contents.
(b) A credit union is not responsible for damage arising because a holder or other designated person had access to the box or removed its contents.
(c) The death of a holder of a jointly held safe deposit box does not affect the right of another holder or other designated person to have access to and remove contents from the box.
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 1999, 76th Leg., ch. 87, Sec. 5, eff. Sept. 1, 1999.
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 9f1fb6a578aff3cac7473e80ab2eca1d1a6dc1ceb016604b5ab8842d0c888baa
- 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.