To establish a depository account, a depositor must complete an account application form and provide the documentation necessary to establish that the depositor is eligible to open a depository account under applicable law and depository written policy. Submission of a signed application constitutes acceptance of the terms applicable to the depository account, and the depository shall not be required to execute the contract in order for the contract to be effective.

Source Note: The provisions of this §14.5 adopted to be effective December 27, 2017, 42 TexReg 7411