1. (a) A savings account may be transferred only on the books of an association on presentation to the association of:

   1. (1) evidence of transfer satisfactory to the association; and
   2. (2) an application for transfer by the transferee.

2. (b) A transferee accepts an account subject to the terms of the:

   1. (1) savings contract; and
   2. (2) association's charter and bylaws.

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.