Texas § FI.125.106 - DIVISION OF ACCOUNT ON DEATH
Full text of Texas The Texas Constitution § FI.125.106 — DIVISION OF ACCOUNT ON DEATH, with citation guidance and answers to common questions.
§ FI.125.106. DIVISION OF ACCOUNT ON DEATH
DIVISION OF ACCOUNT ON DEATH. (a) Unless otherwise provided by the account agreement or a trust agreement, the only effect the death of a party to a multiple-party account has on the beneficial ownership of the account is to transfer the decedent's right in the account to the decedent's estate. (b) An account that does not expressly provide for right of survivorship is presumed to be a nonsurvivorship account. (c) If the credit union complies with an account agreement, the credit union may pay money representing shares or deposits on the order of a party either before or after the death of another party. (d) A credit union acting under Subsection (c) does not have further liability for the amount paid. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § FI.125.106
What does The Texas Constitution § FI.125.106 cover?
Section FI.125.106 ("DIVISION OF ACCOUNT ON DEATH") 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.125.106?
A common citation format is "The Texas Constitution § FI.125.106" (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.125.106 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.