125.405 – ACCOUNT WITHDRAWALS. (a) A credit union may
Texas Finance Code § 125.405
Summary
This law allows credit unions to require up to 60 days' notice for account withdrawals. It also gives the commissioner authority to impose additional notice requirements under certain conditions, affecting all members. Membership shares cannot be withdrawn unless the member maintains their membership status.
Credit unions can require 60 days' notice for withdrawals.
Commissioner may impose additional notice requirements.
Membership shares cannot be withdrawn without active membership.
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In simple terms: Learn about Texas's ACCOUNT WITHDRAWALS. (a) A credit union may 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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