Texas § FI.95.103 - ACCOUNT HELD BY FIDUCIARY
Full text of Texas The Texas Constitution § FI.95.103 — ACCOUNT HELD BY FIDUCIARY, with citation guidance and answers to common questions.
§ FI.95.103. ACCOUNT HELD BY FIDUCIARY
ACCOUNT HELD BY FIDUCIARY. (a) A savings bank or federal savings bank doing business in this state may accept a deposit account in the name of a fiduciary, including an administrator, executor, custodian, guardian, or trustee, for a named beneficiary. (b) A fiduciary may: (1) vote as a member as if the membership were held absolutely; and (2) open, add to, or withdraw money from the account. (c) Except as otherwise provided by law, a payment to a fiduciary or an acquittance signed by the fiduciary to whom a payment is made is a discharge of the savings bank for the payment. (d) After a person holding a deposit account in a fiduciary capacity dies, the savings bank may pay or deliver to the beneficiary the withdrawal value of the account, plus earnings on the account, or other rights relating to the account, in whole or in part, if the savings bank has no written notice or order of the probate court of: (1) the revocation or termination of the fiduciary relationship; or (2) any other disposition of the beneficial estate. (e) A savings bank has no further liability for a payment made or right delivered under Subsection (d). Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Frequently Asked Questions About Texas § FI.95.103
What does The Texas Constitution § FI.95.103 cover?
Section FI.95.103 ("ACCOUNT HELD BY FIDUCIARY") 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.95.103?
A common citation format is "The Texas Constitution § FI.95.103" (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.95.103 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.