125.301 – FORM OF ACCOUNT. (a) A credit union may issue
Texas Finance Code § 125.301
Summary
This law allows credit unions to issue shares or accept deposits in both revocable and irrevocable trusts, provided certain membership criteria are met. It primarily affects credit unions and their members, ensuring that trust accounts can be established under specific conditions.
Allows shares or deposits in revocable trusts for members or their family.
Permits irrevocable trusts if any party is a credit union member.
Credit unions can rely on member status for trust account eligibility.
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In simple terms: Learn about Texas's FORM OF ACCOUNT. (a) A credit union may issue law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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