Section 125.301 - Form of Account(a) A credit union may issue shares or receive a deposit: (1) in a revocable trust, if: (A) a settlor is a member of the credit union; or(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(2) in an irrevocable trust, if a settlor, trustee, or beneficiary is a member of the credit union.(b) A credit union may rely on any information provided by the trustee to determine whether a trust is revocable or irrevocable.Amended by Acts 1999, 76th Leg., ch. 87, Sec. 4, eff. 9/1/1999. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. 9/1/1997.