Tex. Gov't Code § 815.308

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 815.308 - Cash on Hand

(a) The board of trustees shall keep a sufficient amount of cash on hand to make payments as they become due each year under the retirement system.

(b) The amount of cash on hand may not exceed 10 percent of the total amount in the funds of the retirement system on deposit with the comptroller, excluding the assets of the law enforcement and custodial officer supplemental retirement fund.

Tex. Gov't. Code § 815.308

Amended by Acts 1997, 75th Leg., ch. 1423, Sec. 8.47, eff. 9/1/1997.

Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. 9/1/1981. Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.305 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. 9/1/1989.