Texas Finance Code 125.405 – Account Withdrawals
Current as of: 2024 | Check for updates
|
Other versions
(a) A credit union may require not longer than 60 days’ notice for a withdrawal from a share or deposit account.
(b) The commissioner may impose an advance withdrawal notice requirement following issuance of a cease and desist order under Chapter 122. The commissioner by rule may require that a requirement imposed under this subsection apply to all members of the credit union.
Terms Used In Texas Finance Code 125.405
- Rule: includes regulation. See Texas Government Code 311.005
(c) A membership share may not be withdrawn unless membership in the credit union is terminated.