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Texas Bankruptcy - Terms & Definitions

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Zero
The numerical symbol 0 having no monetary value
Zero Balance Checking Account
A checking account of which a balance of zero is maintained by automatically transferring the funds from a primary account in an amount only large enough to cover checks automatic monthly drafts presented such as a mortgage payment or car payment. Companies and businesses use zero balance accounts for payroll or specialty tax accounts and to eliminate excess balances in separate accounts and maintain greater control over their disbursements.

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