Tex. Fin. Code § 125.307

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 125.307 - Termination of Account

When a trust is terminated, the credit union shall pay money remaining in a trust account as:

(1) directed by the trustee;

(2) prescribed by the trust agreement; or

(3) provided by applicable law, in the absence of direction from the trustee or by the trust agreement.

Tex. Fin. Code § 125.307

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. 9/1/1997.