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Tex. Finance Code § 125.203

DISCHARGE OF LIABILITY ON PAYMENT; EFFECT ON MINOR OF REQUIRED ACTION

Texas · Texas Finance Code · Status: effective

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Tex. Finance Code § 125.203, DISCHARGE OF LIABILITY ON PAYMENT; EFFECT ON MINOR OF REQUIRED ACTION, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/646013
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(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.