Texas Finance Code
§ 95.101 — ACCOUNT HELD BY MINOR
FI § 95.101Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part C. SAVINGS BANKS · Ch. 95. DEPOSIT ACCOUNTS · Art. B. PROVISIONS APPLICABLE TO SPECIFIC TYPES OF ACCOUNTS
Statute text
View on source(a)A savings bank or a federal savings bank may accept a deposit account from a minor as the sole and absolute owner of the account.
(b)On the minor's order, the savings bank may:
(1)pay withdrawals;
(2)accept pledges to the savings bank; and
(3)act in any other manner with respect to the account.
(c)Subject to Subsection (e), a payment or delivery of rights to a minor, or an acquittance signed by a minor who holds a deposit account, is a discharge of the savings bank for that payment or delivery.
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Legislative history
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.