Tex. Fin. Code § 95.007 · Subchapter A. GENERAL PROVISIONS
INTEREST OR DIVIDENDS PAID ON ACCOUNTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A savings bank may contract to pay interest on deposit accounts or may pay earnings on deposit accounts in the form of dividends declared by the savings bank's board.
(b) A savings bank shall compute and pay interest and dividends according to rules adopted by the finance commission.
(c) A savings bank shall credit interest or a dividend to a deposit account on the savings bank's books unless the account holder requests and the savings bank agrees that the savings bank will pay interest or dividends on the account in cash.
(d) A savings bank may pay a cash dividend by check or bank draft.
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 867, Sec. 60, eff. Sept. 1, 2001.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.95.htm
- Text hash
- sha256 bfd8ef36cd726b8d7382183238be2aaaaf72518ef065b24b447851bec32ad714
- 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.