{"data":{"id":"us-tx/tex.-finance-code-125.308","jurisdiction":"us-tx","citation":"Tex. Finance Code § 125.308","heading":"EFFECT OF DEATH OF TRUSTEE ON ACCOUNT.","body":"(a) The death of a trustee does not affect the ownership or disposition of a trust account unless:\n(1) the trust agreement provides otherwise; or\n(2) there is not a surviving trustee, and:\n(A) the account is a trust account subject to Subchapter B, Chapter 111, and Chapters 112 and 113, Estates Code; or\n(B) written evidence of the terms of the trust does not exist.\n(b) On the death of a trustee for a trust account for which the death of a trustee affects the ownership disposition of the account, the credit union shall pay out money in the trust account:\n(1) in accordance with the trust agreement; or\n(2) in the absence of written evidence of the terms of the trust, to a beneficiary or any other person authorized by law to request or receive payment.\nActs 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.\nAmended by:\nActs 2015, 84th Leg., R.S., Ch. 1236 (S.B. 1296), Sec. 20.014, eff. September 1, 2015.","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#125.308","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"9d59384e452667247cd7bc9e0278d598d7e93fd3852a131422cb2fb5cf0572fb","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-125.307","next":"us-tx/tex.-finance-code-125.309"},"notice":"GroundRules: Original legal text. Not legal advice."}