Tex. Fin. Code § 95.104 · Subchapter B. PROVISIONS APPLICABLE TO SPECIFIC TYPES OF ACCOUNTS
TRUST ACCOUNT: UNDISCLOSED TRUST INSTRUMENT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) If a savings bank opens a deposit account for a person claiming to be the trustee for another and the savings bank has no other notice of the existence or terms of a trust other than a written claim against the account:
(1) the person claiming to be the trustee may, on the person's signature, withdraw money from the account; and
(2) if that person dies, the savings bank may pay the withdrawal value of all or part of the account, plus earnings on the account, to the person for whom the account was opened.
(b) A savings bank has no further liability for a payment made under Subsection (a).
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.95.htm
- Text hash
- sha256 d7f8380a327ebe3e8f4eff5a322f82eba548a213118370c0c9dc99eedbf1c491
- 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.