Tex. Est. Code Section 113.208
Liability for Payment from Convenience Account

(a)

A financial institution is completely released from liability for a payment made from a convenience account before the financial institution receives notice in writing signed by a party not to make the payment in accordance with the terms of the account. After receipt of the notice from a party, the financial institution may require a party to approve any further payments from the account.

(b)

A financial institution that makes a payment of the sums on deposit in a convenience account to a convenience signer after the death of the last surviving party, but before the financial institution receives written notice of the last surviving party’s death, is completely released from liability for the payment.

(c)

A financial institution that makes a payment of the sums on deposit in a convenience account to the personal representative of the deceased last surviving party’s estate after the death of the last surviving party, but before a court order prohibiting payment is served on the financial institution, is, to the extent of the payment, released from liability to any person claiming a right to the funds. The personal representative’s receipt of the funds is a complete release and discharge of the financial institution.
Added by Acts 2009, 81st Leg., R.S., Ch. 680, Sec. 1, eff. January 1, 2014.

Source: Section 113.208 — Liability for Payment from Convenience Account, https://statutes.­capitol.­texas.­gov/Docs/ES/htm/ES.­113.­htm#113.­208 (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

§ 113.208’s source at texas​.gov