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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) In the absence of a contract to the contrary, a credit union shall allow each holder of a safe deposit box jointly held in the name of two or more persons or a person other than the lessee designated in the lease agreement:
(1) access to the box; and
(2) removal of its contents.
(b) A credit union is not responsible for damage arising because a holder or other designated person had access to the box or removed its contents.
(c) The death of a holder of a jointly held safe deposit box does not affect the right of another holder or other designated person to have access to and remove contents from the box.
Cite this article: FindLaw.com - Texas Finance Code - FIN § 125.503. Access by More Than One Person - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-125-503/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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