By: Harris of Tarrant S.B. No. 1461
A BILL TO BE ENTITLED
AN ACT
1-1 relating to a spouse's access to information concerning the
1-2 community property held by the other spouse.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Subchapter B, Chapter 5, Family Code, is amended
1-5 by adding Section 5.28 to read as follows:
1-6 Sec. 5.28. ACCESS TO CERTAIN ACCOUNT INFORMATION. (a) A
1-7 spouse has the right to examine any account of the other spouse,
1-8 including the amount in and the deposits, loans, or other
1-9 transactions made in relation to the account, maintained by the
1-10 other spouse in a financial institution or stock brokerage firm if
1-11 the account contains community property, including community
1-12 property that is under the sole management, control, and
1-13 disposition of the other spouse.
1-14 (b) A financial institution or stock brokerage firm that
1-15 receives a request from a spouse for information to which the
1-16 spouse is entitled under this section about an account of the other
1-17 spouse shall provide the information requested by the spouse unless
1-18 the institution or firm receives an order from a district court as
1-19 described by Subsection (c) of this section.
1-20 (c) A spouse who objects to a request by the other spouse
1-21 under this section because the account that is the subject of the
1-22 request contains only property that is not community property may
1-23 request an order from a district court preventing the spouse
1-24 requesting the information about the account from obtaining the
2-1 information. The court shall issue the order only if the court
2-2 finds that all of the property in the account is not community
2-3 property.
2-4 (d) This section does not affect the ability of a financial
2-5 institution or stock brokerage firm to charge a fee or costs for
2-6 information provided to a spouse under this section.
2-7 (e) In this section, "financial institution" means a state
2-8 or federal bank, savings and loan association, credit union, or
2-9 savings bank.
2-10 SECTION 2. Subsection (b), Section 6.08, Texas Credit Union
2-11 Act (Article 2461-6.08, Vernon's Texas Civil Statutes), is amended
2-12 to read as follows:
2-13 (b) Except in connection with an examination or audit by a
2-14 government agency authorized by law to examine credit unions or a
2-15 request by the spouse of a member of the credit union under Section
2-16 5.28, Family Code, no credit union authorized to do business under
2-17 this Act is required to disclose or produce to third parties or
2-18 permit third parties to examine records pertaining to the shares,
2-19 deposits, loans, or other affairs of a member of the credit union,
2-20 unless the member consents to the disclosure or production or the
2-21 request for disclosure or production is made by the department or
2-22 is in response to a subpoena or other order issued by a court of
2-23 competent jurisdiction or to an administrative subpoena or summons
2-24 issued by a state or federal agency as specifically authorized by
2-25 law. The commission may promulgate reasonable rules regarding the
2-26 confidentiality of members' accounts and the duties and obligations
2-27 of the credit union to maintain that confidentiality and may
3-1 authorize disclosure of member information under circumstances and
3-2 conditions that the commission determines are appropriate or
3-3 requisite in the daily operation of the credit union's business.
3-4 The commission by rule shall provide for reasonable notice to a
3-5 member of a request from the member's spouse under Section 5.28,
3-6 Family Code.
3-7 SECTION 3. Sections 1, 2, and 3, Article 5, Chapter VII, The
3-8 Texas Banking Code (Article 342-705, Vernon's Texas Civil
3-9 Statutes), are amended to read as follows:
3-10 Sec. 1. No financial institution shall be required to
3-11 recognize the claim of any third party to any deposit, or withhold
3-12 payment of any deposit to the depositor or to his order, unless and
3-13 until the financial institution is served with citation or other
3-14 appropriate process issuing out of a court of competent
3-15 jurisdiction in connection with a suit instituted by such third
3-16 party for the purpose of recovering or establishing an interest in
3-17 such deposit; neither shall any financial institution be required
3-18 to disclose or produce to third parties, or permit third parties to
3-19 examine the amount deposited by any depositor or other records
3-20 pertaining to the deposits, accounts, loans, or other transactions
3-21 of a depositor, owner, borrower, or customer except (i) where the
3-22 depositor, owner, borrower, or customer as to whom the information
3-23 is to be disclosed is a proper or necessary party to a proceeding
3-24 in a court of competent jurisdiction in which event the records
3-25 pertaining to the deposits, accounts, loans, or other financial
3-26 institution transactions of such depositor, owner, borrower, or
3-27 customer shall be subject to disclosure or (ii) where the financial
4-1 institution itself is a proper or necessary party to a proceeding
4-2 in a court of competent jurisdiction, except that records
4-3 pertaining to the deposits, accounts, loans, or other transactions
4-4 of a depositor, owner, borrower, or customer may not be disclosed
4-5 unless the court orders and the financial institution subsequently
4-6 obtains the written consent of the depositor, owner, borrower, or
4-7 customer to whom the records pertain, or (iii) in response to a
4-8 subpoena issued by a legislative investigating committee of the
4-9 Legislature of Texas, or (iv) in response to a request for
4-10 examination of its records by the Attorney General of Texas
4-11 pursuant to Article 1302-5.01 et seq. of the Texas Miscellaneous
4-12 Corporation Laws Act, or (v) in response to a request by the spouse
4-13 of a depositor, owner, borrower, or customer under Section 5.28,
4-14 Family Code.
4-15 Sec. 2. Unless ordered otherwise by a court of competent
4-16 jurisdiction and unless consent is required under Section (1)(ii)
4-17 of this article, before disclosure, production, or examination may
4-18 be required under Section 1 of this article, the agency, body, or
4-19 party issuing or obtaining the order, subpoena, or request for the
4-20 disclosure, examination, or production of records of deposits,
4-21 accounts, loans, or other financial institution records shall (1)
4-22 give notice of such order, subpoena, or request to the depositor or
4-23 financial institution customer in the manner provided by Rule 21a,
4-24 Texas Rules of Civil Procedure, at least 10 days preceding the date
4-25 when compliance with the order, subpoena, or request is required,
4-26 and (2) certify to the financial institution (at the time the
4-27 order, subpoena, or request is served or delivered to the financial
5-1 institution) that the depositor or financial institution customer
5-2 has been served with or has been mailed a copy of the order,
5-3 subpoena, or request as required herein. A financial institution
5-4 shall be entitled to recover from the party seeking the material
5-5 reasonable costs of reproduction, postage, delivery, and other
5-6 expenses which it incurs in complying with orders, subpoenas,
5-7 requests for the disclosure, consent to disclosure, examination, or
5-8 production of records of deposits, accounts, loans, and other
5-9 financial institution records. A production, disclosure, or
5-10 examination under Section 1(i) <or> (ii), or (v) of this article is
5-11 not required until the costs that the financial institution is
5-12 entitled to recover under this section have been paid to the
5-13 financial institution in full or until the party seeking the
5-14 material has posted a cost bond in an amount sufficient to ensure
5-15 the recovery by the financial institution of all of those costs and
5-16 expenses. The financial institution may notify its customer or
5-17 depositor (unless ordered otherwise by a court of competent
5-18 jurisdiction) of its receipt of any subpoena, order, or request for
5-19 production.
5-20 Sec. 3. Each customer or depositor entitled to notice of an
5-21 order, subpoena, or request for disclosure, examination, or
5-22 production of records of deposits or accounts or other financial
5-23 institution records may, prior to the date specified therein for
5-24 disclosure, examination, or production, file in an appropriate
5-25 district court of the State of Texas a motion to quash the order,
5-26 subpoena, or request or for protective order and shall make
5-27 personal service of such motion on the party, agency, or body
6-1 issuing or obtaining such order, subpoena, or request and on the
6-2 financial institution prior to the date for disclosure,
6-3 examination, or production. Any motion to quash or for protection
6-4 shall be verified. Failure to file and serve such motion to quash
6-5 or for protection shall constitute consent for all purposes to
6-6 disclosure, production, or examination made pursuant to this
6-7 article. A motion for a protective order in response to a request
6-8 under Section 1(v) of this article is subject to Section 5.28,
6-9 Family Code.
6-10 SECTION 4. (a) This Act takes effect September 1, 1993.
6-11 (b) This Act applies to a request by a spouse to examine an
6-12 account held by the other spouse that contains community property
6-13 on or after the effective date of this Act, without regard to
6-14 whether the account was opened or the community property was
6-15 obtained by the other spouse before, on, or after that date.
6-16 SECTION 5. The importance of this legislation and the
6-17 crowded condition of the calendars in both houses create an
6-18 emergency and an imperative public necessity that the
6-19 constitutional rule requiring bills to be read on three several
6-20 days in each house be suspended, and this rule is hereby suspended.