Texas Finance Code - Section 34.301. Nature Of Deposit Contract
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Texas Lawyer > Finance Code > Texas Finance Code - Section 34.301. Nature Of Deposit Contract
§ 34.301. NATURE OF DEPOSIT CONTRACT. (a) A deposit
contract between a bank and an account holder is considered a
contract in writing for all purposes and may be evidenced by one or
more agreements, deposit tickets, signature cards, or notices as
provided by Section 34.302, or by other documentation as provided
by law.
(b) A cause of action for denial of deposit liability on a
deposit contract without a maturity date does not accrue until the
bank has denied liability and given notice of the denial to the
account holder. A bank that provides an account statement or
passbook to the account holder is considered to have denied
liability and given the notice as to any amount not shown on the
statement or passbook.
(c) To the extent provided by Section 4.102(c), Business &
Commerce Code, the laws of this state govern a deposit contract
between a bank and a consumer account holder if the branch or
separate office of the bank that accepts the deposit contract is
located in this state.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. Amended
by Acts 1999, 76th Leg., ch. 344, § 2.012, eff. Sept. 1, 1999.
Section: 34.105 34.106 34.107 34.201 34.202 34.203 34.204 34.301 34.302 34.303 34.304 34.305 34.306 34.307 35.001
Last modified: August 10, 2007
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