Texas Civil Practice and Remedies Code 31.010 – Turnover by Financial Institution
(a) A financial institution that receives a request to turn over assets or financial information of a judgment debtor to a judgment creditor or a receiver under a turnover order or receivership under Section 31.002 shall be provided and may rely on:
(1) a certified copy of the order or injunction of the court; or
(2) a certified copy of the order of appointment of a receiver under Section 64.001, including a certified copy of:
(A) any document establishing the qualification of the receiver under Section 64.021;
(B) the sworn affidavit under Section 64.022; and
(C) the bond under Section 64.023.
(b) A financial institution that complies with this section is not liable for compliance with a court order, injunction, or receivership authorized by Section 31.002 to:
(1) the judgment debtor;
(2) a party claiming through the judgment debtor;
(3) a co-depositor with the judgment debtor; or
(4) a co-borrower with the judgment debtor.
Terms Used In Texas Civil Practice and Remedies Code 31.010
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
- sworn: includes affirm or affirmed. See Texas Government Code 312.011
(c) A financial institution that complies with this section is entitled to recover reasonable costs, including copying costs, research costs, and, if there is a contest, reasonable attorney’s fees.
(d) In this section, “financial institution” means a state or national bank, state or federal savings and loan association, state or federal savings bank, state or federal credit union, foreign bank, foreign bank agency, or trust company.