Sec. 113.0531. USE OF FORM AND DISCLOSURE BY CREDIT UNIONS. (a) A credit union is considered to have disclosed the information provided by this subchapter if the credit union uses the form provided by Section 113.052.
(b) If a credit union varies the format of the form provided by Section 113.052, the credit union may make disclosures in the account agreement or in any other form that discloses the information provided by this subchapter.
(c) If the customer receives disclosure of the ownership rights to an account and the names of the parties are indicated, a credit union may combine any of the provisions in, and vary the format of, the form and notices described in Section 113.052 in:
(1) a universal account form with options listed for selection and additional disclosures provided in the account agreement; or
(2) any other manner that adequately discloses the information provided by this subchapter.
Added by Acts 2015, 84th Leg., R.S., Ch. 85 (S.B. 1791), Sec. 2, eff. September 1, 2015.
Structure Texas Statutes
Title 2 - Estates of Decedents; Durable Powers of Attorney
Subtitle C - Passage of Title and Distribution of Decedents' Property in General
Chapter 113 - Multiple-Party Accounts
Subchapter B. Uniform Account Form
Section 113.051. Establishment of Type of Account; Applicability of Certain Law
Section 113.053. Required Disclosure; Use of Form
Section 113.0531. Use of Form and Disclosure by Credit Unions