Texas § 125.404 LIENS AND SETOFFS.

Texas Statutes

§ 125.404 — LIENS AND SETOFFS.

Texas § 125.404

Code FIFinance Code

This text of Texas § 125.404 (LIENS AND SETOFFS.) 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. § 125.404 (2026).

Text

Sec. 125.404. LIENS AND SETOFFS.

(a)To the extent of a member's direct or indirect indebtedness to a credit union, the credit union has:

(1)a lien, enforceable with or without judicial process, on the member's shares and deposits, accumulated dividends, and interest; and

(2)a right to set off against the member's shares, deposits, accumulated dividends, and interest.

(b)A credit union may allow a withdrawal to be made without affecting the credit union's right to a setoff or lien.

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Sec. 125.404. LIENS AND SETOFFS. (a) To the extent of a member's direct or indirect indebtedness to a credit union, the credit union has:
(1) a lien, enforceable with or without judicial process, on the member's shares and deposits, accumulated dividends, and interest; and
(2) a right to set off against the member's shares, deposits, accumulated dividends, and interest.
(b) A credit union may allow a withdrawal to be made without affecting the credit union's right to a setoff or lien.