Texas Finance Code

§ 125.502 — RELATIONSHIP BETWEEN CREDIT UNION AND BOX HOLDER

FI § 125.502Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part D. CREDIT UNIONS · Ch. 125. CREDIT UNION ACCOUNTS AND SERVICES · Art. F. SAFE DEPOSIT BOXES

Statute text

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(a)In the absence of a contract to the contrary, the relationship between a credit union and the renter of a safe deposit box maintained at the credit union is that of lessor and lessee and landlord and tenant. The rights and liabilities of the credit union are governed by the law governing those relationships.

(b)The lessee is for all purposes in possession of the box and its contents.

Legislative history

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