EFFECT OF CERTAIN PROVISIONS REGARDING OWNERSHIP BETWEEN PARTIES AND OTHERS
Applied in 1 court decision — leading case Whitlock v. Lowe (2017)
Most recently applied in Whitlock v. Lowe (March 2017)
Added by Acts 2009, 81st Leg., R.S., Ch. 680, Sec. 1, eff
The provisions of this subchapter and Subchapters B and D that relate to beneficial ownership between parties, or between parties and P.O.D. payees or beneficiaries of multiple-party accounts:
(1) are relevant only to controversies between those persons and those persons' creditors and other successors; and
(2) do not affect the withdrawal power of those persons under the terms of an account contract.
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.