Texas § FI.125.404 - LIENS AND SETOFFS
Full text of Texas The Texas Constitution § FI.125.404 — LIENS AND SETOFFS, with citation guidance and answers to common questions.
§ FI.125.404. LIENS AND SETOFFS
LIENS AND SETOFFS. (a) To the extent of a member's direct or indirect indebtedness to a credit union, the credit union has: (1) a lien, enforceable with or without judicial process, on the member's shares and deposits, accumulated dividends, and interest; and (2) a right to set off against the member's shares, deposits, accumulated dividends, and interest. (b) A credit union may allow a withdrawal to be made without affecting the credit union's right to a setoff or lien. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Frequently Asked Questions About Texas § FI.125.404
What does The Texas Constitution § FI.125.404 cover?
Section FI.125.404 ("LIENS AND SETOFFS") 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.125.404?
A common citation format is "The Texas Constitution § FI.125.404" (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.125.404 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.