Texas Finance Code 95.004 – Deposit Contract
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(a) Each holder of a deposit account must execute a deposit contract. The contract must specify:
(1) any special terms applicable to the account; and
(2) the conditions on which withdrawals may be made.
(b) The savings bank shall hold the deposit contract in the records pertaining to the account.
Terms Used In Texas Finance Code 95.004
- Contract: A legal written agreement that becomes binding when signed.
(c) A deposit contract pertaining to a deposit account of a public or governmental entity must provide that the holder of the account may not become a member of the savings bank.