Texas § ES.113.053 - REQUIRED DISCLOSURE
Full text of Texas The Texas Constitution § ES.113.053 — REQUIRED DISCLOSURE, with citation guidance and answers to common questions.
§ ES.113.053. REQUIRED DISCLOSURE
REQUIRED DISCLOSURE; USE OF FORM. (a) Except as provided by Subsection (d), a financial institution shall disclose the information provided in this subchapter to a customer before the customer selects or modifies an account. (a-1) A financial institution is considered to have disclosed the information provided in this subchapter if: (1) the financial institution uses the form provided by Section 113.052 ; and (2) the customer signs the acknowledgment provided at the end of the form. (b) If a financial institution varies the format of the form provided by Section 113.052 , the financial institution shall disclose the information provided by this subchapter separately from other account information except that the financial institution may disclose that information as part of other account documentation if the disclosures are the first items of the documentation. (c) The financial institution shall notify the customer of the type of account the customer selected. This requirement is satisfied by providing the customer with a copy of the account opening or modification documentation, as appropriate, in paper or electronic format. (d) If a type of multiple-party account is not available from a financial institution, the financial institution is not required to make a disclosure about that type of account. (e) This section does not apply to: (1) a credit union; or (2) an account that is opened or modified by a customer who: (A) is a legal entity, including a governmental entity; or (B) is acting as a legal representative for another person. Added by Acts 2009, 81st Leg., R.S., Ch. 680 , Sec. 1, eff. January 1, 2014. Amended by: Acts 2015, 84th Leg., R.S., Ch. 85 (S.B. 1791 ), Sec. 1, eff. September 1, 2015. Acts 2017, 85th Leg., R.S., Ch. 304 (S.B. 714 ), Sec. 2, eff. September 1, 2017.
Frequently Asked Questions About Texas § ES.113.053
What does The Texas Constitution § ES.113.053 cover?
Section ES.113.053 ("REQUIRED DISCLOSURE") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § ES.113.053?
A common citation format is "The Texas Constitution § ES.113.053" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § ES.113.053 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.