{"data":{"id":"us-tx/tex.-finance-code-125.511","jurisdiction":"us-tx","citation":"Tex. Finance Code § 125.511","heading":"AUCTION OF CONTENTS.","body":"(a) If the rental, cost, and damages determined under Section 125.510(d) are not paid before the second anniversary of the date on which the box is opened, the credit union may:\n(1) sell all or part of the contents at a public auction in the manner and on the notice prescribed for the sale of real property under deed of trust under Section 51.002, Property Code; and\n(2) apply the sale proceeds to the rental, cost, and damages.\n(b) The credit union shall send to the comptroller as provided by Chapter 74, Property Code:\n(1) the unauctioned contents of a box; and\n(2) any excess proceeds from the auction.\nActs 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE D. CREDIT UNIONS","CHAPTER 125. CREDIT UNION ACCOUNTS AND SERVICES","SUBCHAPTER F. SAFE DEPOSIT BOXES"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.125.htm#125.511","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"1c4e7a6d4ac9d318a2e40a48afdf5c15c11b90569c24dbfe622b78f305b854c6","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-125.510","next":"us-tx/tex.-finance-code-126.001"},"notice":"GroundRules: Original legal text. Not legal advice."}