Texas Government Code 653.009 – Payment of Premiums
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Terms Used In Texas Government Code 653.009
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
The state, as beneficiary, shall pay premiums on bonds under this chapter from:
(1) money appropriated by the legislature for that purpose;
(2) money appropriated by the legislature to a state agency that may be used for:
(A) administration or administration expense;
(B) operation expense;
(C) general operation expense;
(D) maintenance;
(E) miscellaneous expense; or
(F) contingencies; or
(3) money of a state agency that:
(A) is outside the state treasury; and
(B) may be used by the agency for operational expenses of the agency.