Texas · Through 89th 2nd Called Legislative Session, 2025

Tex. Finance Code § 65.106: TRUST ACCOUNT; UNDISCLOSED TRUST INSTRUMENT.

Where this section sits in the code

FINANCE CODE
TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES
SUBTITLE B. SAVINGS AND LOAN ASSOCIATIONS
CHAPTER 65. SAVINGS ACCOUNTS
SUBCHAPTER B. PROVISIONS APPLICABLE TO SPECIFIC TYPES OF ACCOUNTS

(a) If an association opens a savings account for a person claiming to be the trustee for another and the association has no other written notice of the existence or terms of a trust:

(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, an association may pay the withdrawal value of all or part of the account, plus dividends on the account, to the person for whom the account was opened.

(b) An association has no further liability for a payment made under Subsection (a).

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

Collected 2026-08-27T01:47:13Z. Source file · JSON

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