125.503 – ACCESS BY MORE THAN ONE PERSON. (a) In the
Texas Finance Code § 125.503
Summary
This law mandates that credit unions must allow all joint holders of a safe deposit box access to its contents unless specified otherwise in a contract. It also clarifies that credit unions are not liable for any damage resulting from access or removal of items by authorized individuals.
Joint holders can access and remove contents from safe deposit boxes.
Credit unions are not liable for damages from authorized access.
Contract terms can override these access rights.
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In simple terms: Learn about Texas's ACCESS BY MORE THAN ONE PERSON. (a) In the 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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