Texas Occupations Code 1101.604 – Management of Trust Account
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(a) The commission shall hold money credited to the trust account in trust to carry out the purpose of the trust account.
(b) Money credited to the trust account may be invested in the same manner as money of the Employees Retirement System of Texas, except that an investment may not be made that would impair the liquidity necessary to make payments from the trust account as required by this subchapter.
Terms Used In Texas Occupations Code 1101.604
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
(c) Interest from the investments shall be deposited to the credit of the trust account.
(d) Repealed by Acts 2023, 88th Leg., R.S., Ch. 94 (S.B. 1577), Sec. 28(6), eff. January 1, 2024.