Texas Finance Code - Section 34.303. Fees; Disclosures
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Texas Lawyer > Finance Code > Texas Finance Code - Section 34.303. Fees; Disclosures
§ 34.303. FEES; DISCLOSURES. (a) Except as otherwise
provided by law, a bank may charge an account holder a fee, service
charge, or penalty relating to service or activity of a deposit
account, including a fee for an overdraft, insufficient fund check,
or stop payment order.
(b) Except as otherwise provided by the Truth in Savings Act
(12 U.S.C. Section 4301 et seq.) or other federal law, a bank shall
disclose the amount of each fee, charge, or penalty related to an
account or, if the amount of a fee, charge, or penalty cannot be
stated, the method of computing the fee, charge, or penalty. The
disclosure must be made by written notice delivered or mailed to
each customer opening an account not later than the 10th business
day after the date the account is opened. A bank that increases or
adds a new fee, charge, or penalty shall give notice of the change
to each affected account holder in the manner provided by Section
34.302(b) for notice of an amendment of a deposit contract.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.
Section: 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 35.002 35.003
Last modified: August 10, 2007
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