Tex. Fin. Code Section 125.405
Account Withdrawals

(a)

A credit union may require not longer than 60 days’ notice for a withdrawal from a share or deposit account.

(b)

The commissioner may impose an advance withdrawal notice requirement following issuance of a cease and desist order under Chapter 122 (Organizational and Financial Requirements). The commissioner by rule may require that a requirement imposed under this subsection apply to all members of the credit union.

(c)

A membership share may not be withdrawn unless membership in the credit union is terminated.

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

Source: Section 125.405 — Account Withdrawals, https://statutes.capitol.texas.gov/Docs/FI/htm/FI.125.htm#125.405 (accessed Jun. 5, 2024).

125.001
Definition 125.002
Share Account 125.003
Deposit Accounts 125.004
Construction with Other Laws 125.101
Form of Account 125.102
Powers of Account Holders 125.103
Powers of Members Relating to Account 125.104
Ownership Interest 125.105
Discharge of Liability on Payment 125.106
Division of Account on Death 125.107
Setoff of Account 125.201
Powers of Credit Union Relating to Account 125.202
Voting 125.203
Discharge of Liability on Payment 125.301
Form of Account 125.302
Loans to Nonmember Trustee 125.303
Beneficiary Fees 125.304
Limitations Placed on Beneficiary 125.305
Account Transaction Inquiries 125.306
Discharge of Liability on Payment 125.307
Termination of Account 125.308
Effect of Death of Trustee on Account 125.309
Trust Account with Limited Documentation 125.401
Third-party Claim 125.402
Disclosure of Records of Member 125.403
Recovery of Document Production Expenses from Third Party 125.404
Liens and Setoffs 125.405
Account Withdrawals 125.501
Rental of Safe Deposit Box 125.502
Relationship Between Credit Union and Box Holder 125.503
Access by More than One Person 125.504
Relocation of Safe Deposit Box 125.505
Notice of Box Relocation 125.506
Cost of Notice as Box Rental 125.507
Emergency Relocation of Safe Deposit Box 125.508
Key Imprinting 125.509
Liability for Access to or Removal of Contents 125.510
Delinquent Rents 125.511
Auction of Contents

Accessed:
Jun. 5, 2024

§ 125.405’s source at texas.gov

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Location: https://texas.public.law/statutes/tex._fin._code_section_125.405

Original Source: Section 125.405 — Account Withdrawals, https://statutes.capitol.texas.gov/Docs/FI/htm/FI.125.htm#125.405 (last accessed Jun. 5, 2024).