Payment of all or part of a multiple-party account to a party to the account discharges the credit union's liability to each party to the extent of the payment.
Official text of the Texas Finance Code as published by the Texas Legislative Council.
Finance Code › Title 3 › Chapter 125 › Subchapter B
Texas Finance Code § 125.105
Discharge of Liability on Payment
Credit Union Accounts and Services · Multiple-Party Accounts
Legislative history
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.