Tex. Gov't Code § 609.010 · Subchapter A. GENERAL PROVISIONS
LIABILITY; RESPONSIBILITY FOR MONITORING.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The board of trustees, a state agency, a political subdivision, a plan administrator, or an employee of any of those persons is not liable to a participating employee for the diminution in value or loss of all or part of the participating employee's deferred amounts or investment income because of market conditions or the failure, insolvency, or bankruptcy of a qualified vendor.
(b) A participating employee is responsible for monitoring:
(1) the financial status of the qualified vendor in whose products the employee's deferred amounts and investment income are invested;
(2) market conditions; and
(3) the amount of the employee's deferred amounts and investment income that is invested in the qualified vendor's product.
Notes and commentary — not statutory text
History
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.609.htm
- Text hash
- sha256 b4e8c7f86f4304ac5607352ed2af921293dce42a474bcda24430f9eb216a528c
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Cited by 2 provisions
Provisions in this library whose text cites Tex. Gov't Code § 609.010. Each shows the citation as that text prints it.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.