Texas Finance Code

§ 65.104 — PLEDGE OF JOINT ACCOUNT

FI § 65.104Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part B. SAVINGS AND LOAN ASSOCIATIONS · Ch. 65. SAVINGS ACCOUNTS · Art. B. PROVISIONS APPLICABLE TO SPECIFIC TYPES OF ACCOUNTS

Statute text

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(a)Unless the terms of the savings account provide otherwise, a person on whose signature money may be withdrawn from an account in the names of two or more persons may, by a signed pledge, pledge and transfer to the association or federal association all or part of the account.

(b)A pledge made under Subsection (a) does not sever or terminate the joint and survivorship ownership of the account.

Legislative history

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