Texas Finance Code - Section 63.006. Power To Act Under Certain Federal Retirement Plans
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§ 63.006. POWER TO ACT UNDER CERTAIN FEDERAL RETIREMENT
PLANS. An association or a federal association, to the extent that
its charter and applicable federal regulations permit, may:
(1) exercise any power necessary to qualify as a
trustee or custodian for:
(A) a retirement plan meeting the requirements of
26 U.S.C. Section 401(d) or 408; or
(B) a similar plan permitted or recognized by
federal law; and
(2) invest money the association holds as trustee or
custodian under Subdivision (1) in the association's savings
accounts if the plan does not prohibit that investment.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.
Section: 62.560 62.561 63.001 63.002 63.003 63.004 63.005 63.006 63.007 63.008 63.009 63.010 64.001 64.002 64.003
Last modified: August 10, 2007
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