Duty of Financial Institution

Sec. 702.354. DUTY OF FINANCIAL INSTITUTION. A financial institution in which an escrow account is established under Section 702.352 shall hold each prepayment in the account as escrow agent for the benefit of the member who made the prepayments. Acts 1999, 76th Leg., ch. 388, Sec. 1, eff. Sept. 1, 1999.