Texas Finance Code

§ 95.004 — DEPOSIT CONTRACT

FI § 95.004Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part C. SAVINGS BANKS · Ch. 95. DEPOSIT ACCOUNTS · Art. A. GENERAL PROVISIONS

Statute text

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(a)Each holder of a deposit account must execute a deposit contract. The contract must specify:

(1)any special terms applicable to the account; and

(2)the conditions on which withdrawals may be made.

(b)The savings bank shall hold the deposit contract in the records pertaining to the account.

(c)A deposit contract pertaining to a deposit account of a public or governmental entity must provide that the holder of the account may not become a member of the savings bank.

Legislative history

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