Tex. Labor Code Section 203.102
Obligation Trust Fund

(a)

The obligation trust fund is a dedicated trust fund outside of the state treasury in the custody of the comptroller. The obligation trust fund is composed of:

(1)

revenue received under Section 203.105 (Unemployment Obligation Assessment); and

(2)

any surplus revenue transferred from the compensation fund under Section 204.065 (Use of Surplus).

(b)

The commission and governor may use money in the obligation trust fund without legislative appropriation to pay:

(1)

bond obligations and bond administrative expenses; and

(2)

principal and interest incurred on advances from the federal trust fund.

Acts 1993, 73rd Leg., ch. 269, Sec. 1, eff. Sept. 1, 1993. Amended by Acts 1995, 74th Leg., ch. 1004, Sec. 1, eff. Sept. 1, 1995; Acts 1997, 75th Leg., ch. 1423, Sec. 12.08, eff. Sept. 1, 1997; Acts 2003, 78th Leg., ch. 317, Sec. 2, eff. June 18, 2003; Acts 2003, 78th Leg., ch. 817, Sec. 6.02, eff. June 20, 2003.

Amended by:

Acts 2007, 80th Leg., R.S., Ch. 34 (S.B. 679), Sec. 1, eff. May 4, 2007.

Source: Section 203.102 — Obligation Trust Fund, https://statutes.capitol.texas.gov/Docs/LA/htm/LA.203.htm#203.102 (accessed May 18, 2024).

203.001
Definitions 203.002
Duties of Comptroller 203.003
Comptroller’s Bond Liability 203.004
Deposit of Funds 203.005
Application of Other Law 203.021
Unemployment Compensation Fund 203.022
Composition and Use of Clearing Account 203.023
Requisitions from Federal Trust Fund 203.024
Deposits 203.025
Use of Requisitioned Money 203.026
Accounts from Which Benefits and Refunds Are Paid 203.027
Unexpended Balance of Benefit Account 203.028
Solvency of Compensation Fund 203.029
Refund of Contributions to Federal Instrumentality 203.030
Reimbursement from or to Compensation Fund Under Reciprocal Arrangement 203.031
Nonliability of State 203.032
Management of Compensation Fund on Discontinuance of Federal Trust Fund 203.101
Limit on Application for Advance 203.102
Obligation Trust Fund 203.104
Limitation on Transfer from Obligation Trust Fund to Compensation Fund 203.105
Unemployment Obligation Assessment 203.151
Administration Fund 203.152
Use of Administration Fund 203.154
Reimbursement of Administration Fund 203.201
Special Administration Fund 203.202
Use of Special Administration Fund 203.203
Refund of Penalties 203.251
Findings and Purpose 203.252
Definitions 203.253
Request for Bond Issuance 203.254
Issuance of Bonds by Authority 203.255
Bond Proceeds 203.256
Repayment of Commission’s Financial Obligations 203.257
Bond Payments 203.258
Excess Revenue Collections and Investment Earnings 203.259
State Debt Not Created 203.260
State Not to Impair Bond Obligations 203.261
Exemption from Taxation 203.262
No Personal Liability

Accessed:
May 18, 2024

§ 203.102’s source at texas.gov

Stay Connected

Join thousands of people who receive monthly site updates.

Get Legal Help

The State Bar of Texas runs a service for finding an attorney in good standing. Initial consultations are usually free or discounted: Lawyer Referral & Information Service (LRIS)

Committed to Public Service

We will always provide free access to the current law. In addition, we provide special support for non-profit, educational, and government users. Through social entrepreneurship, we’re lowering the cost of legal services and increasing citizen access.

Navigate

California:	Codes
Colorado:	C.R.S.
Nevada:	NRS
New York:	Laws
Oregon:	OAR, ORS
Texas:	Statutes
World:	Rome Statute, International Dictionary

Location: https://texas.public.law/statutes/tex._labor_code_section_203.102

Original Source: Section 203.102 — Obligation Trust Fund, https://statutes.capitol.texas.gov/Docs/LA/htm/LA.203.htm#203.102 (last accessed May 18, 2024).