{"data":{"id":"us-tx/tex.-government-code-609.113","jurisdiction":"us-tx","citation":"Tex. Government Code § 609.113","heading":"EVALUATION AND APPROVAL OF QUALIFIED VENDOR.","body":"(a) A plan administrator shall develop and implement criteria and procedures for evaluating a vendor's application to become a qualified vendor.\n(b) A plan administrator may not approve a vendor's application if the vendor is:\n(1) a state or national bank or savings and loan association, the deposits of which are not insured by the Federal Deposit Insurance Corporation;\n(2) a credit union, the deposits of which are not insured by the National Credit Union Administration Board or the Texas Share Guaranty Credit Union; or\n(3) an insurance company that:\n(A) is not a member of the Texas Life and Health Insurance Guaranty Association; or\n(B) is an impaired or insolvent insurer under Chapter 463, Insurance Code.\n(c) On written request, the Texas Department of Insurance shall certify in writing to a plan administrator whether an insurance company is prohibited from being approved as a qualified vendor under Subsection (b)(3). The plan administrator may rely on the certification.\nAdded by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.\nAmended by:\nActs 2011, 82nd Leg., R.S., Ch. 14 (S.B. 567), Sec. 12, eff. September 1, 2011.","path":["GOVERNMENT CODE","TITLE 6. PUBLIC OFFICERS AND EMPLOYEES","SUBTITLE A. PROVISIONS GENERALLY APPLICABLE TO PUBLIC OFFICERS AND EMPLOYEES","CHAPTER 609. DEFERRED COMPENSATION PLANS","SUBCHAPTER B. DEFERRED COMPENSATION PLANS FOR EMPLOYEES OF POLITICAL SUBDIVISIONS"],"source_url":"https://statutes.capitol.texas.gov/Docs/GV/htm/GV.609.htm#609.113","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:16Z","sha256":"df9d684c03bb64df82d3e3afff75a7fd2d77d9dd3f0386a93f2dc407d5b20705","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-government-code-609.112","next":"us-tx/tex.-government-code-609.114"},"notice":"GroundRules: Original legal text. Not legal advice."}