Tex. Gov't Code Section 802.207
Custody and Use of Funds

(a)

An investment manager other than a bank having a contract with a public retirement system under Section 802.204 (Investment Manager) 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.

Source: Section 802.207 — Custody and Use of Funds, https://statutes.capitol.texas.gov/Docs/GV/htm/GV.802.htm#802.207 (accessed Jun. 5, 2024).

802.001
Definitions 802.002
Exemptions 802.003
Writ of Mandamus 802.101
Actuarial Valuation 802.102
Audit 802.103
Annual Financial Report 802.104
Report of Members and Retirees 802.105
Registration 802.106
Information to Member or Annuitant 802.107
General Provisions Relating to Reports and Contact Information 802.108
Report of Investment Returns and Assumptions 802.109
Investment Practices and Performance Reports 802.201
Assets in Trust 802.202
Investment of Surplus 802.203
Fiduciary Responsibility 802.204
Investment Manager 802.205
Investment Custody Account 802.206
Evaluation of Investment Services 802.207
Custody and Use of Funds 802.301
Actuarial Impact Statements 802.302
Preparation of Actuarial Analysis 802.303
Contents of Actuarial Analysis 802.304
Cost of Actuarial Analysis 802.305
Reports, Analyses, and Actuarial Impact Statements for Certain Bills and Resolutions 802.1012
Audits of Actuarial Valuations, Studies, and Reports 802.1014
Actuarial Experience Study 802.1024
Correction of Errors 802.1025
Complaint Procedure 802.1085
Biennial Report on Investment Returns of Certain Public Retirement Systems 802.2011
Funding Policy 802.2015
Funding Soundness Restoration Plan 802.2016
Funding Soundness Restoration Plan for Certain Public Retirement Systems 802.3021
State Pension Review Board Actuary

Accessed:
Jun. 5, 2024

§ 802.207’s source at texas.gov

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Location: https://texas.public.law/statutes/tex._gov't_code_section_802.207

Original Source: Section 802.207 — Custody and Use of Funds, https://statutes.capitol.texas.gov/Docs/GV/htm/GV.802.htm#802.207 (last accessed Jun. 5, 2024).