Tex. Gov't Code Section 404.115
Personnel

(a)

The comptroller may appoint a person to serve as chief executive officer in managing the trust company and carrying out the policies of the trust company. The chief executive officer and employees of the trust company serve at the will of the comptroller.

(b)

The comptroller may delegate any of the comptroller’s duties to the chief executive officer and trust company employees.

(c)

The chief executive officer or the chief executive officer’s designee shall develop a career ladder program and a system of compensation necessary to retain qualified staff.

(d)

The chief executive officer or the chief executive officer’s designee shall develop a system of annual performance evaluations. Merit pay for trust company employees must be based on the system established under this subsection.

(e)

The chief executive officer or the chief executive officer’s designee shall prepare and maintain a written policy statement to assure implementation of a program of equal employment opportunity under which all personnel decisions are made without regard to race, color, disability, religion, age, or national origin.

(f)

The chief executive officer shall appoint an internal auditor for the trust company. The appointment of the internal auditor must be approved by the comptroller. The comptroller may require the internal auditor to submit certain reports directly to the comptroller.

(g)

Except as provided by this section and Section 404.103 (Powers)(e), trust company employees hired under this subchapter are state employees for all purposes, including accrual of leave time, insurance benefits, retirement benefits, and travel regulations, Chapter 104 (State Liability for Conduct of Public Servants), Civil Practice and Remedies Code, and Chapter 501 (Workers’ Compensation Insurance Coverage for State Employees, Including Employees Under the Direction or Control of the Board of Regents of Texas Tech University), Labor Code.
Added by Acts 2001, 77th Leg., ch. 1158, Sec. 27, eff. June 15, 2001.

Source: Section 404.115 — Personnel, https://statutes.­capitol.­texas.­gov/Docs/GV/htm/GV.­404.­htm#404.­115 (accessed Apr. 13, 2024).

404.001
Definitions 404.0011
Transfer of Treasurer’s Powers and Duties 404.013
Rules 404.021
Eligible Institutions 404.022
Applications 404.023
Designation 404.024
Authorized Investments 404.026
Eleemosynary Funds 404.027
Liquidity 404.028
Investment Advisory Board 404.031
Collateral Requirements 404.032
Deposits 404.033
Withdrawals and Remittances 404.041
Trustee 404.043
Security Officers 404.045
Receipt of Money 404.046
Payment from Treasury 404.047
Accounts 404.048
Report 404.049
Money in Treasury 404.050
Delivery to Successor 404.051
Money Returned to County or Municipality 404.052
Obligations of Municipalities, Districts, and Political Subdivisions 404.054
Daily Totals 404.055
Time and Demand Deposits 404.056
Information Concerning Warrants 404.057
Warrants Payable Accounts 404.058
Outstanding Warrants 404.059
General Ledger Accounts 404.060
Priority of Warrants 404.062
Undetermined Remittances 404.063
Violation 404.064
Office Fees 404.065
Cash Balancing 404.066
Ledger 404.067
Safekeeping 404.068
State Regulatory Agencies Safekeeping and Pledged Collateral 404.069
Trust Funds 404.070
Validity of Voided Warrants 404.071
Disposition of Interest on Investments 404.072
Examination by State Auditor 404.073
Funds Outside Treasury 404.091
Short Title 404.092
Definition 404.093
Applicability of Subchapter 404.094
Funds to Be Deposited in Treasury 404.095
Electronic Transfer of Certain Payments 404.096
Rapid Deposits, Transactions, and Transfers Required 404.097
Deposit of Funds Recovered by Litigation or Settlement 404.101
Definitions 404.102
Creation of Trust Company 404.103
Powers 404.104
Duties of Comptroller 404.105
Capital or Reserve 404.106
Earnings 404.107
Fees 404.108
Trust Company Investment Advisory Board 404.109
Restrictions on Advisory Board Appointment, Membership, and Employment 404.110
Removal of Advisory Board Members 404.111
Advisory Board Member Training 404.112
Compensation 404.113
Meetings 404.114
Investment Management 404.115
Personnel 404.116
Liability Insurance for Certain Board Members, Officials, and Staff 404.121
Definitions 404.122
Cash Management Committee 404.123
Notes Authorized 404.124
Shortfall Forecast 404.125
Issuance of Notes 404.126
Fund Transfers 404.0211
Conflict of Interest 404.0212
Depository Rating Under Certain Federal Law 404.0221
Eligible Collateral 404.0241
Investment of Certain Economic Stabilization Fund Balances 404.0245
Crude Oil and Natural Gas Futures Contracts
Green check means up to date. Up to date

Accessed:
Apr. 13, 2024

§ 404.115’s source at texas​.gov