Tex. Est. Code Section 113.0531
Use of Form and Disclosure by Credit Unions

(a)

A credit union is considered to have disclosed the information provided by this subchapter if the credit union uses the form provided by Section 113.052 (Form).

(b)

If a credit union varies the format of the form provided by Section 113.052 (Form), the credit union may make disclosures in the account agreement or in any other form that discloses the information provided by this subchapter.

(c)

If the customer receives disclosure of the ownership rights to an account and the names of the parties are indicated, a credit union may combine any of the provisions in, and vary the format of, the form and notices described in Section 113.052 (Form) in:

(1)

a universal account form with options listed for selection and additional disclosures provided in the account agreement; or

(2)

any other manner that adequately discloses the information provided by this subchapter.
Added by Acts 2015, 84th Leg., R.S., Ch. 85 (S.B. 1791), Sec. 2, eff. September 1, 2015.

Source: Section 113.0531 — Use of Form and Disclosure by Credit Unions, https://statutes.­capitol.­texas.­gov/Docs/ES/htm/ES.­113.­htm#113.­0531 (accessed May 4, 2024).

113.001
General Definitions 113.002
Definition of Party 113.003
Definition of Net Contribution 113.004
Types of Accounts 113.005
Authority of Financial Institutions to Enter into Certain Accounts 113.051
Establishment of Type of Account 113.052
Form 113.053
Required Disclosure 113.101
Effect of Certain Provisions Regarding Ownership Between Parties and Others 113.102
Ownership of Joint Account During Parties’ Lifetimes 113.104
Ownership of Trust Account During Trustee’s Lifetime 113.105
Ownership of Convenience Account 113.106
Ownership and Operation of Other Account with Convenience Signer 113.151
Establishment of Right of Survivorship in Joint Account 113.153
Ownership of Trust Account on Death of Trustee 113.154
Ownership of Convenience Account on Death of Party 113.155
Effect of Death of Party on Certain Accounts Without Rights of Survivorship 113.156
Applicability of Certain Provisions on Death of Party 113.157
Written Notice to Financial Institutions Regarding Form of Account 113.158
Nontestamentary Nature of Certain Transfers 113.201
Applicability of Subchapter 113.202
Payment of Multiple-party Account 113.203
Payment of Joint Account 113.205
Payment of Trust Account 113.206
Payment of Convenience Account 113.207
Liability for Payment from Joint Account After Death 113.208
Liability for Payment from Convenience Account 113.209
Discharge from Claims 113.210
Set-off to Financial Institution 113.251
Pledge of Account 113.252
Rights of Creditors 113.253
No Effect on Certain Rights and Liabilities of Financial Institutions 113.0531
Use of Form and Disclosure by Credit Unions 113.1541
Ownership of Other Account with Convenience Signer on Death of Last Surviving Party
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Accessed:
May 4, 2024

§ 113.0531’s source at texas​.gov