By: Harris, Chris S.B. No. 1461
73R9842 DAK-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to a spouse's access to information concerning the
1-3 community property held by the other spouse.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Subchapter B, Chapter 5, Family Code, is amended
1-6 by adding Section 5.28 to read as follows:
1-7 Sec. 5.28. ACCESS TO CERTAIN ACCOUNT INFORMATION. (a) A
1-8 spouse has the right to examine any account of the other spouse,
1-9 including the amount in and the deposits, loans, or other
1-10 transactions made in relation to the account, maintained by the
1-11 other spouse in a financial institution or stock brokerage firm if
1-12 the account contains community property, including community
1-13 property that is under the sole management, control, and
1-14 disposition of the other spouse.
1-15 (b) A financial institution or stock brokerage firm that
1-16 receives a request from a spouse for information to which the
1-17 spouse is entitled under this section about an account of the other
1-18 spouse shall provide the information requested by the spouse unless
1-19 the institution or firm receives an order from a district court as
1-20 described by Subsection (c) of this section.
1-21 (c) A spouse who objects to a request by the other spouse
1-22 under this section because the account that is the subject of the
1-23 request contains only property that is not community property may
1-24 request an order from a district court preventing the spouse
2-1 requesting the information about the account from obtaining the
2-2 information. The court shall issue the order only if the court
2-3 finds that all of the property in the account is not community
2-4 property.
2-5 (d) This section does not affect the ability of a financial
2-6 institution or stock brokerage firm to charge a fee or costs for
2-7 information provided to a spouse under this section.
2-8 (e) In this section, "financial institution" means a state
2-9 or federal bank, savings and loan association, credit union, or
2-10 savings bank.
2-11 SECTION 2. Section 6.08(b), Texas Credit Union Act (Article
2-12 2461-6.08, Vernon's Texas Civil Statutes), is amended to read as
2-13 follows:
2-14 (b) Except in connection with an examination or audit by a
2-15 government agency authorized by law to examine credit unions, or a
2-16 request by the spouse of a member of the credit union under Section
2-17 5.28, Family Code, no credit union authorized to do business under
2-18 this Act is required to disclose or produce to third parties or
2-19 permit third parties to examine records pertaining to the shares,
2-20 deposits, loans, or other affairs of a member of the credit union,
2-21 unless the member consents to the disclosure or production or the
2-22 request for disclosure or production is made by the department or
2-23 is in response to a subpoena or other order issued by a court of
2-24 competent jurisdiction or to an administrative subpoena or summons
2-25 issued by a state or federal agency as specifically authorized by
2-26 law. The commission may promulgate reasonable rules regarding the
2-27 confidentiality of members' accounts and the duties and obligations
3-1 of the credit union to maintain that confidentiality and may
3-2 authorize disclosure of member information under circumstances and
3-3 conditions that the commission determines are appropriate or
3-4 requisite in the daily operation of the credit union's business.
3-5 The commission by rule shall provide for reasonable notice to a
3-6 member of a request from the member's spouse under Section 5.28,
3-7 Family Code.
3-8 SECTION 3. Sections 1, 2, and 3, Article 5, Chapter VII, The
3-9 Texas Banking Code (Article 342-705, Vernon's Texas Civil
3-10 Statutes), are amended to read as follows:
3-11 Sec. 1. No financial institution shall be required to
3-12 recognize the claim of any third party to any deposit, or withhold
3-13 payment of any deposit to the depositor or to his order, unless and
3-14 until the financial institution is served with citation or other
3-15 appropriate process issuing out of a court of competent
3-16 jurisdiction in connection with a suit instituted by such third
3-17 party for the purpose of recovering or establishing an interest in
3-18 such deposit; neither shall any financial institution be required
3-19 to disclose or produce to third parties, or permit third parties to
3-20 examine the amount deposited by any depositor or other records
3-21 pertaining to the deposits, accounts, loans, or other transactions
3-22 of a depositor, owner, borrower, or customer except (i) where the
3-23 depositor, owner, borrower, or customer as to whom the information
3-24 is to be disclosed is a proper or necessary party to a proceeding
3-25 in a court of competent jurisdiction in which event the records
3-26 pertaining to the deposits, accounts, loans, or other financial
3-27 institution transactions of such depositor, owner, borrower, or
4-1 customer shall be subject to disclosure or (ii) where the financial
4-2 institution itself is a proper or necessary party to a proceeding
4-3 in a court of competent jurisdiction, except that records
4-4 pertaining to the deposits, accounts, loans, or other transactions
4-5 of a depositor, owner, borrower, or customer may not be disclosed
4-6 unless the court orders and the financial institution subsequently
4-7 obtains the written consent of the depositor, owner, borrower, or
4-8 customer to whom the records pertain, or (iii) in response to a
4-9 subpoena issued by a legislative investigating committee of the
4-10 Legislature of Texas, <or> (iv) in response to a request for
4-11 examination of its records by the Attorney General of Texas
4-12 pursuant to Article 1302-5.01 et seq. of the Texas Miscellaneous
4-13 Corporation Laws Act, or (v) in response to a request by the spouse
4-14 of a depositor, owner, borrower, or customer under Section 5.28,
4-15 Family Code.
4-16 Sec. 2. Unless ordered otherwise by a court of competent
4-17 jurisdiction and unless consent is required under Section (1)(ii)
4-18 of this article, before disclosure, production, or examination may
4-19 be required under Section 1 of this article, the agency, body, or
4-20 party issuing or obtaining the order, subpoena, or request for the
4-21 disclosure, examination, or production of records of deposits,
4-22 accounts, loans, or other financial institution records shall (1)
4-23 give notice of such order, subpoena, or request to the depositor or
4-24 financial institution customer in the manner provided by Rule 21a,
4-25 Texas Rules of Civil Procedure, at least 10 days preceding the date
4-26 when compliance with the order, subpoena, or request is required,
4-27 and (2) certify to the financial institution (at the time the
5-1 order, subpoena, or request is served or delivered to the financial
5-2 institution) that the depositor or financial institution customer
5-3 has been served with or has been mailed a copy of the order,
5-4 subpoena, or request as required herein. A financial institution
5-5 shall be entitled to recover from the party seeking the material
5-6 reasonable costs of reproduction, postage, delivery, and other
5-7 expenses which it incurs in complying with orders, subpoenas,
5-8 requests for the disclosure, consent to disclosure, examination, or
5-9 production of records of deposits, accounts, loans, and other
5-10 financial institution records. A production, disclosure, or
5-11 examination under Section 1(i) <or> (ii), or (v) of this article is
5-12 not required until the costs that the financial institution is
5-13 entitled to recover under this section have been paid to the
5-14 financial institution in full or until the party seeking the
5-15 material has posted a cost bond in an amount sufficient to ensure
5-16 the recovery by the financial institution of all of those costs and
5-17 expenses. The financial institution may notify its customer or
5-18 depositor (unless ordered otherwise by a court of competent
5-19 jurisdiction) of its receipt of any subpoena, order, or request for
5-20 production.
5-21 Sec. 3. Each customer or depositor entitled to notice of an
5-22 order, subpoena, or request for disclosure, examination, or
5-23 production of records of deposits or accounts or other financial
5-24 institution records may, prior to the date specified therein for
5-25 disclosure, examination, or production, file in an appropriate
5-26 district court of the State of Texas a motion to quash the order,
5-27 subpoena, or request or for protective order and shall make
6-1 personal service of such motion on the party, agency, or body
6-2 issuing or obtaining such order, subpoena, or request and on the
6-3 financial institution prior to the date for disclosure,
6-4 examination, or production. Any motion to quash or for protection
6-5 shall be verified. Failure to file and serve such motion to quash
6-6 or for protection shall constitute consent for all purposes to
6-7 disclosure, production, or examination made pursuant to this
6-8 article. A motion for a protective order in response to a request
6-9 under Section 1(v) of this article is subject to Section 5.28,
6-10 Family Code.
6-11 SECTION 4. (a) This Act takes effect September 1, 1993.
6-12 (b) This Act applies to a request by a spouse to examine an
6-13 account held by the other spouse that contains community property
6-14 on or after the effective date of this Act, without regard to
6-15 whether the account was opened or the community property was
6-16 obtained by the other spouse before, on, or after that date.
6-17 SECTION 5. The importance of this legislation and the
6-18 crowded condition of the calendars in both houses create an
6-19 emergency and an imperative public necessity that the
6-20 constitutional rule requiring bills to be read on three several
6-21 days in each house be suspended, and this rule is hereby suspended.