Sec. 1802.152. MANAGEMENT OF FUND. (a) The department is the manager of the fund and shall:
(1) administer the fund without appropriation;
(2) maintain books and records as required by the executive director;
(3) appear at hearings or judicial proceedings; and
(4) invest and reinvest the fund's assets as instructed by the executive director.
(b) The department, as manager, is entitled to compensation for reasonable and necessary costs and expenses for the management of the fund. The department shall be compensated from the earnings from the fund.
Acts 1999, 76th Leg., ch. 388, Sec. 1, eff. Sept. 1, 1999. Amended by Acts 2003, 78th Leg., ch. 816, Sec. 26.049, eff. Sept. 1, 2003; Acts 2003, 78th Leg., ch. 1276, Sec. 14A.363, eff. Sept. 1, 2003.
Section: Previous 1802.103 1802.104 1802.106 1802.107 1802.108 1802.109 1802.151 1802.152 1802.153 1802.154 1802.155 1802.156 1802.201 1802.202 NextLast modified: September 28, 2016