Sec. 1201.402. ADMINISTRATION OF TRUST FUND. (a) The director shall administer the trust fund.
(b) The director is not required to file a bond or other security to serve as administrator of the trust fund.
(c) The trust fund, fees collected for the trust fund, and income earned from investment of the trust fund may be used only for the protection programs prescribed by this subchapter.
(d) Money in the trust fund may be invested and reinvested in the same manner as the funds of the Employees Retirement System of Texas. An investment may not be made that would impair the liquidity necessary to fund the protection programs prescribed by this subchapter. Income from the trust fund shall be deposited to the credit of the fund.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 863 (H.B. 1460), Sec. 46, eff. January 1, 2008.
Section: Previous 1201.357 1201.358 1201.359 1201.360 1201.361 1201.362 1201.401 1201.402 1201.403 1201.404 1201.405 1201.406 1201.407 1201.409 1201.410 NextLast modified: September 28, 2016