Case Information

*0 FILED IN 1st COURT OF APPEALS HOUSTON, TEXAS 8/10/2015 5:34:09 PM CHRISTOPHER A. PRINE Clerk *1 APPENDIXl

§ 34.302. Amendment Of Deposit Contract.

Tua Statutes

Finance Coda

Tltle 3. Flnanclal lnstltuOons And Buelne••••

Subtllta A. Banke

Chapter 34. lnveatrnent,, Loan•, And Deposits

Subchapter D. Dapostta

Includes all legislation signed by the Governor or filed without the Gowmor's signBluf9 as af June

19, 2015

§ 34.302. Amendment Of DapHlt Contract

(a) A bank and its account holder may amend the deposit contract by agreement or as

pennittad Subsection (b) or other law.

· (b) A bank may amend a deposit contract by mailing a written notice of the to tha

account holder, separately or as an enclosure with or part of the account holder's

statement of account or paubook. The notice must include the text and effective date of

the amendment. The bank Is required to deliver the notice to only one of the account

holders of a deposit account that has more than one account holder. The effective date

may not ba earlier than the 30th day after the date of malllng the notice unless the

amendment: is made to comply with a statute or rule that authorizes an earlier effective date;

(1)

(2) does not reduce the interest rate on the account or otherwise adversely affect the

account holder, or

(3) is made for a reason relatlng to security of an account.

{c) Except for a disclosure required tc be made under Section 34.303 or the Truth in Savings

Act ( 12 U.S.C. Section 4301 et seq.) or other federal law, before renewal of an account a

notice amendment Is not required under Subsection (b) for:

(1 ) a change in tha intsrest rate on a variable-rate account, including a money market

or negoUeble order of withdrawal account:

(2) a change In a tenn for a time account with a maturity of one month or lass if the

deposit contract authorizes the change in the term; or

APPENDIX I

(3) a change contemplated and pennlttad the original contract.

(d) An under Subsection (b) may reduce the rate interest or elimina18 interest

on an account without a maturity date.

(a) Amendment of a deposit contract made in compliance with this section Is not a violation of

the Deceptive Trade Practices--Consumar Protection Act (Section 17.41 et seq., Business

& Commerce Code).

Cite n Tn. Fin. CDda I M.302

Hlatory. km 1997, 76th Lag., ch.1008, Sac. 1, llff. Sept. 1, 1997.