As used in this subchapter:
(1) “Available for immediate withdrawal as a matter of right” means the following: For any item or draft, when the item or draft has been submitted for collection and payment received; and
(2) For any deposited item or draft, when final settlement has occurred;
(3) “Closing and settlement services” means those services which benefit the parties to the sale, lease, encumbrance, mortgage, or creation of a secured interest in and to real property, and the receipt and disbursement of money in connection with any sale, lease, encumbrance, mortgage, or deed of trust; and
(4) “Financial institution” means an entity that is authorized under the laws of this state, another state, or the United States of America to make loans and receive deposits and has its deposits insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund.