Texas § FI.59.008 - CLAIMS AGAINST CUSTOMERS OF FINANCIAL INSTITUTIONS

§ FI.59.008. CLAIMS AGAINST CUSTOMERS OF FINANCIAL INSTITUTIONS

CLAIMS AGAINST CUSTOMERS OF FINANCIAL INSTITUTIONS. (a) A claim against a customer of a financial institution shall be delivered or served as otherwise required or permitted by law at the address designated as the address of the registered agent of the financial institution in a registration filed with the secretary of state pursuant to Section 201.102 , with respect to an out-of-state financial institution, or Section 201.103 , with respect to a Texas financial institution. (b) If a financial institution files a registration statement with the secretary of state pursuant to Section 201.102 , with respect to an out-of-state financial institution, or Section 201.103 , with respect to a Texas financial institution, a claim against a customer of the financial institution is not effective as to the financial institution if the claim is served or delivered to an address other than that designated by the financial institution in the registration as the address of the financial institution's registered agent. (c) The customer bears the burden of preventing or limiting a financial institution's compliance with or response to a claim subject to this section by seeking an appropriate remedy, including a restraining order, injunction, protective order, or other remedy, to prevent or suspend the financial institution's response to a claim against the customer. (d) A financial institution that does not file a registration with the secretary of state pursuant to Section 201.102 , with respect to an out-of-state financial institution, or Section 201.103 , with respect to a Texas financial institution, is subject to service or delivery of all claims against customers of the financial institution as otherwise provided by law. Added by Acts 1999, 76th Leg., ch. 344, Sec. 2.016, eff. Sept. 1, 1999.