{"data":{"id":"us-tx/tex.-finance-code-125.301","jurisdiction":"us-tx","citation":"Tex. Finance Code § 125.301","heading":"FORM OF ACCOUNT.","body":"(a) A credit union may issue shares or receive a deposit:\n(1) in a revocable trust, if:\n(A) a settlor is a member of the credit union; or\n(B) a trustee or a beneficiary is a member of the credit union and the settlor is a member of the trustee's or beneficiary's family as that term is defined by the board in a written policy; or\n(2) in an irrevocable trust, if a settlor, trustee, or beneficiary is a member of the credit union.\n(b) A credit union may rely on any information provided by the trustee to determine whether a trust is revocable or irrevocable.\nActs 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 1999, 76th Leg., ch. 87, Sec. 4, eff. Sept. 1, 1999.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE D. CREDIT UNIONS","CHAPTER 125. CREDIT UNION ACCOUNTS AND SERVICES","SUBCHAPTER D. TRUST ACCOUNT"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.125.htm#125.301","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"a18cee77d42f7e004590a1ca5993ddd7f1cffa000b69d9c836b060607b258b23","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-125.203","next":"us-tx/tex.-finance-code-125.302"},"notice":"GroundRules: Original legal text. Not legal advice."}