Section 281.005 - Immunity(a) An employee of a financial institution who makes a notification under Section 281.002(a), a financial institution that submits a report under Section 281.002(b) or makes a notification to a third party under Section 281.003, or an employee who or financial institution that testifies or otherwise participates in a judicial proceeding arising from a notification or report is immune from any civil or criminal liability arising from the notification, report, testimony, or participation in the judicial proceeding, unless the employee or financial institution acted in bad faith or with a malicious purpose.(b) A financial institution that in good faith and with the exercise of reasonable care places or does not place a hold on any transaction under Section 281.004(a)(1) is immune from any civil or criminal liability or disciplinary action resulting from that action or failure to act.Tex. Fin. Code art. 281.005
Amended by Acts 2019, Texas Acts of the 86th Leg.- Regular Session, ch. 467,Sec. 21.002, eff. 9/1/2019.Renumbered as Tex. Fin. Code § 281.005 by Acts 2019, Texas Acts of the 86th Leg.- Regular Session, ch. 467,Sec. 21.001, eff. 9/1/2019.Added by Acts 2017, Texas Acts of the 85th Leg. - Regular Session, ch. 376,Sec. 1, eff. 9/1/2017.