ACCOUNT WITHDRAWALS
Known as the Texas Credit Union Act
The act spans §§ 121.001–149.002 (219 sections).
Applied in 1 court decision — leading case 367 F. Supp. 2d 1056 - United States v. Doviak (2005)
Most recently applied in 367 F. Supp. 2d 1056 - United States v. Doviak (April 2005)
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff
(a) A credit union may require not longer than 60 days' notice for a withdrawal from a share or deposit account.
(b) The commissioner may impose an advance withdrawal notice requirement following issuance of a cease and desist order under Chapter 122. The commissioner by rule may require that a requirement imposed under this subsection apply to all members of the credit union.
(c) A membership share may not be withdrawn unless membership in the credit union is terminated.
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.