Tex. Finance Code § 65.106
This is the official text of Tex. Finance Code § 65.106, part of Texas’s Finance Code — regulates banks and other financial institutions.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
§ 65.106. TRUST ACCOUNT; UNDISCLOSED TRUST INSTRUMENT.
Official statutory text
(a) If an association opens a savings account for a person claiming to be the trustee for another and the association has no other written notice of the existence or terms of a trust:
(1) the person claiming to be the trustee may, on the person's signature, withdraw money from the account; and
(2) if that person dies, an association may pay the withdrawal value of all or part of the account, plus dividends on the account, to the person for whom the account was opened.
(b) An association has no further liability for a payment made under Subsection (a).
(1) the person claiming to be the trustee may, on the person's signature, withdraw money from the account; and
(2) if that person dies, an association may pay the withdrawal value of all or part of the account, plus dividends on the account, to the person for whom the account was opened.
(b) An association has no further liability for a payment made under Subsection (a).
Status: in_force · Read it on the official government site
Need a lawyer in Texas?
Find a Texas lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.