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Texas Finance Code - FIN § 149.001. Applicability of Chapters 3 and 4, Business & Commerce Code

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) Chapters 3 and 4, Business & Commerce Code, determine the rights, responsibilities, and liabilities of a person regarding an item drawn on, transferred to, or presented, remitted, collected, settled, negotiated, or otherwise handled by a credit union as if the credit union were a bank, unless otherwise provided by written agreement of the parties.

(b) In this section:

(1) “Credit union” means a credit union authorized to do business in this state under this subtitle or the Federal Credit Union Act (12 U.S.C. Section 1751 et seq.).

(2) “Item”:

(A) means an instrument, whether or not negotiable, for the payment of money; and

(B) does not include money.

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Cite this article: FindLaw.com - Texas Finance Code - FIN § 149.001. Applicability of Chapters 3 and 4, Business & Commerce Code - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-149-001/

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