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Are you ready for 2014 Texas Statutory Changes?
Friday, October 18, 2013 8:45 AM

Tick, tock…the statutory clock is ticking and many Texas Statutes are renumbered, rewritten and effective in 2014.  These changes affect many areas of the share account side of the credit union.  Texas statutes while passed in previous years become effective in 2014.  All of these changes and the normal account opening procedures will be covered in the Cornerstone Credit Union League’s Compliance Review Seminar Nov. 6, at the League’s headquarters in Farmers Branch, Texas.

Presented by Deborah Crawford, highlights of the one-day program include:

  • New format for the account card regarding convenience signers. 
  • Greater detail in the multiple party law on set-off and rights to pay debts at death.
  • POA form and description.  In the old law your member checked off the powers that applied.  Now the new statute, the member crosses off the ones that do not apply.
  • Minor statute for credit unions allowing the minor to be treated as an adult in share accounts.
  • Guardianships and the duties and rights of guardians and the expiration duties.

Attendees are asked to bring a copy of their account card and account agreement, as many issues are addressed in your card during the program.

For more information, please visit the Education section of the League’s website, at https://www.cornerstoneleague.coop/Compliance_Review_Seminars.html.

If you have any questions, please contact Training & Events, at (469) 385-6630 or (800) 442-5762, ext. 6630

Educational grants are available through the Cornerstone Credit Union Foundation. To learn more, please visit http://www.cscuf.coop/.