Payment of all or part of a multiple-party account to a party to the account discharges the credit union's liability to each party to the extent of the payment.
Tex. Fin. Code § 125.105
DISCHARGE OF LIABILITY ON PAYMENT
Known as the Texas Credit Union Act
The act spans §§ 121.001 to 149.002 (219 sections).
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.