Tex. Finance Code § 125.306
This is the official text of Tex. Finance Code § 125.306, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 125.306. DISCHARGE OF LIABILITY ON PAYMENT.
Official statutory text
Payment of all or part of the shares and deposits to a trustee or other person authorized to request present payment on a trust account discharges the liability of the credit union to each settlor, trustee, and beneficiary to the extent of the payment.
Status: in_force · Read it on the official government site
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