Sec. 125.107. SETOFF OF ACCOUNT. Without qualifying another statutory right to a setoff or lien and subject to a contractual provision accepted by the credit union, a credit union has the right of setoff against the entire amount of a multiple-party account in which a party to the account is indebted to the credit union.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Chapter 125 - Credit Union Accounts and Services
Subchapter B. Multiple-Party Accounts
Section 125.101. Form of Account
Section 125.102. Powers of Account Holders
Section 125.103. Powers of Members Relating to Account
Section 125.104. Ownership Interest
Section 125.105. Discharge of Liability on Payment