Sec. 125.502. RELATIONSHIP BETWEEN CREDIT UNION AND BOX HOLDER. (a) In the absence of a contract to the contrary, the relationship between a credit union and the renter of a safe deposit box maintained at the credit union is that of lessor and lessee and landlord and tenant. The rights and liabilities of the credit union are governed by the law governing those relationships.
(b) The lessee is for all purposes in possession of the box and its contents.
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 F. Safe Deposit Boxes
Section 125.501. Rental of Safe Deposit Box
Section 125.502. Relationship Between Credit Union and Box Holder
Section 125.503. Access by More Than One Person
Section 125.504. Relocation of Safe Deposit Box; Inventory of Contents
Section 125.505. Notice of Box Relocation
Section 125.506. Cost of Notice as Box Rental
Section 125.507. Emergency Relocation of Safe Deposit Box
Section 125.508. Key Imprinting
Section 125.509. Liability for Access to or Removal of Contents