Texas · Through 89th 2nd Called Legislative Session, 2025

Tex. Government Code § 802.207: CUSTODY AND USE OF FUNDS.

Where this section sits in the code

GOVERNMENT CODE
TITLE 8. PUBLIC RETIREMENT SYSTEMS
SUBTITLE A. PROVISIONS GENERALLY APPLICABLE TO PUBLIC RETIREMENT SYSTEMS
CHAPTER 802. ADMINISTRATIVE REQUIREMENTS
SUBCHAPTER C. ADMINISTRATION OF ASSETS

(a) An investment manager other than a bank having a contract with a public retirement system under Section 802.204 may not be a custodian of any assets of the reserve fund of the system.

(b) When demands of the public retirement system require, the governing body shall withdraw from a custodian of system funds money for use in paying benefits to members and other beneficiaries of the system and for other uses authorized by this subchapter and approved by the governing body.

Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981. Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 12.207 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.

Collected 2026-08-27T01:47:16Z. Source file · JSON

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