Texas Government Code 2116.012 – Transfer of Depository Account
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(a) A depository account may be transferred on the books of the depository only on presentation to the depository of:
(1) evidence of transfer satisfactory to the depository; and
(2) an application for the transfer submitted by the person to whom the depository account is to be transferred.
(b) A person to whom a depository account is to be transferred must accept the transferred account subject to the terms of the deposit contract, this chapter, and rules adopted under this chapter.
Terms Used In Texas Government Code 2116.012
- Contract: A legal written agreement that becomes binding when signed.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005