Texas § GV.2116.007 - TRANSFER OF DEPOSITORY ACCOUNT BALANCE
Full text of Texas The Texas Constitution § GV.2116.007 — TRANSFER OF DEPOSITORY ACCOUNT BALANCE, with citation guidance and answers to common questions.
§ GV.2116.007. TRANSFER OF DEPOSITORY ACCOUNT BALANCE
TRANSFER OF DEPOSITORY ACCOUNT BALANCE. (a) In accordance with rules adopted under this chapter, a depository account holder may transfer any portion of the balance of the holder's depository account by written demand or digital electronic instruction to another person. (b) The depository shall adjust the depository account balances of the depository accounts to reflect a transfer transaction between depository account holders on presentment of the written demand or other instruction by reducing the payor's depository account balance and increasing the depository account balance of the payee accordingly. (c) If a depository account holder transfers to a payee who is not a depository account holder any portion of the balance of the depository account holder's depository account, the depository shall, if the payee is otherwise eligible to open a depository account under applicable laws and depository policy, allow the payee to establish a depository account. The depository shall credit a newly established account on behalf of the payee and shall debit the payor's account accordingly. Added by Acts 2015, 84th Leg., R.S., Ch. 1000 (H.B. 483 ), Sec. 1, eff. June 19, 2015. Amended by: Acts 2019, 86th Leg., R.S., Ch. 198 (H.B. 2458 ), Sec. 14, eff. May 24, 2019.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § GV.2116.007
What does The Texas Constitution § GV.2116.007 cover?
Section GV.2116.007 ("TRANSFER OF DEPOSITORY ACCOUNT BALANCE") 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 § GV.2116.007?
A common citation format is "The Texas Constitution § GV.2116.007" (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 § GV.2116.007 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.