Texas Finance Code

§ 123.209 — TRANSFER SYSTEM

FI § 123.209Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part D. CREDIT UNIONS · Ch. 123. GENERAL POWERS · Art. C. FINANCIAL POWERS

Statute text

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A credit union may establish, operate, or participate in a system that allows the transfer of credit union money or the shares or deposits of its members by electronic or other means, including a clearinghouse association, a data processing or other electronic network, the Federal Reserve System, or any other government payment or liquidity program.

Legislative history

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