Texas § FI.65.010 - REDEMPTION OF SAVINGS ACCOUNT
Full text of Texas The Texas Constitution § FI.65.010 — REDEMPTION OF SAVINGS ACCOUNT, with citation guidance and answers to common questions.
§ FI.65.010. REDEMPTION OF SAVINGS ACCOUNT
REDEMPTION OF SAVINGS ACCOUNT. (a) An association may redeem in the manner the board determines all or part of its savings accounts if the association: (1) redeems the accounts on a dividend date; (2) not later than the 31st day before the redemption date, gives notice of the redemption by certified mail to each affected account holder at the holder's last address as recorded on the books of the association; and (3) not later than the redemption date, sets aside the amount necessary for the redemption and keeps the amount available for redemption. (b) The redemption price of a savings account is the withdrawal value of the account. (c) All rights, including the accrual of earnings, that relate to a deposit account called for redemption, other than the right of the account holder of record to receive the redemption price, terminate as of the redemption date. (d) An association may not redeem any of its savings accounts if the association: (1) is subject to supervisory control, a conservatorship, or a receivership action under Chapter 66 , unless the commissioner directs the redemption; or (2) has applications for withdrawal that have been on file for more than 30 days and have not been 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.65.010
What does The Texas Constitution § FI.65.010 cover?
Section FI.65.010 ("REDEMPTION OF SAVINGS 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.65.010?
A common citation format is "The Texas Constitution § FI.65.010" (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.65.010 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.