34 Tex. Admin. Code § 14.10 - Transfer of Depository Account
(a) A
depository account may be transferred to another person only on presentation to
the depository of:
(1) evidence of transfer
satisfactory to the depository; and
(2) an application for the transfer submitted
by the person to whom the depository account is to be transferred.
(b) A person to whom a depository
account is to be transferred must accept the transferred account subject to the
terms of the depository account agreement and must otherwise be eligible to
open an account under applicable laws and regulations. If a person to whom a
depository account is to be transferred is not eligible to open an account
under applicable law and these rules, the depository may close the account and
take all steps that are reasonably necessary to deliver to the transferee the
balance of the depository account, minus any applicable fees.
(c) The depository may require the transferee
to provide information as is reasonably necessary to ensure that a delivery of
precious metals under this section is made in accordance with applicable law
and policies established by the depository.
Notes
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