Texas § FI.125.002 - SHARE ACCOUNT
Full text of Texas The Texas Constitution § FI.125.002 — SHARE ACCOUNT, with citation guidance and answers to common questions.
§ FI.125.002. SHARE ACCOUNT
SHARE ACCOUNT. (a) Shares and membership shares shall be subscribed to and paid for in the manner prescribed by the bylaws. A credit union may limit the number of shares that may be owned by a member, but any such limitation must be applied equally to all members. (b) A credit union may require credit union members to subscribe to and make payments on membership shares. Membership shares may not be pledged as security on any loan. (c) The board of directors may establish different classes of share accounts classified in relation to different rights, restrictions, par value, and dividend rates. (d) A joint account may hold more than one membership share, supporting membership for more than one member of the credit union. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2003, 78th Leg., ch. 533, Sec. 41, eff. Sept. 1, 2003.
Frequently Asked Questions About Texas § FI.125.002
What does The Texas Constitution § FI.125.002 cover?
Section FI.125.002 ("SHARE ACCOUNT") 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 § FI.125.002?
A common citation format is "The Texas Constitution § FI.125.002" (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 § FI.125.002 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.