Texas § 125.203 DISCHARGE OF LIABILITY ON PAYMENT; EFFECT ON MINOR OF REQUIRED ACTION.

Texas Statutes

§ 125.203 — DISCHARGE OF LIABILITY ON PAYMENT; EFFECT ON MINOR OF REQUIRED ACTION.

Texas § 125.203

Code FIFinance Code

This text of Texas § 125.203 (DISCHARGE OF LIABILITY ON PAYMENT; EFFECT ON MINOR OF REQUIRED ACTION.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Finance Code Code Ann. § 125.203 (2026).

Text

Sec. 125.203. DISCHARGE OF LIABILITY ON PAYMENT; EFFECT ON MINOR OF REQUIRED ACTION.

(a)A payment or delivery of rights made by a credit union or a federal credit union to any of the following persons in connection with an account in the name of a minor discharges the credit union or federal credit union to the extent of the payment or delivery:

(1)the minor;

(2)a party to the account; or

(3)the parent or guardian of a deceased minor.

(b)The payment and a receipt, pledge, or other action required by the credit union is binding on the minor as if the minor had the capacity of an adult. SUBCHAPTER D. TRUST ACCOUNT

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Sec. 125.203. DISCHARGE OF LIABILITY ON PAYMENT; EFFECT ON MINOR OF REQUIRED ACTION. (a) A payment or delivery of rights made by a credit union or a federal credit union to any of the following persons in connection with an account in the name of a minor discharges the credit union or federal credit union to the extent of the payment or delivery:
(1) the minor;
(2) a party to the account; or
(3) the parent or guardian of a deceased minor.
(b) The payment and a receipt, pledge, or other action required by the credit union is binding on the minor as if the minor had the capacity of an adult.
SUBCHAPTER D. TRUST ACCOUNT