Tex. Gov't Code § 609.203 · Subchapter B-1. PARTICIPATION IN DEFERRED COMPENSATION PLAN BY CERTAIN HOSPITAL DISTRICT EMPLOYEES
DISCRETIONARY TRANSFER.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A hospital district may transfer an employee's deferred amounts and investment income from a qualified investment product to the trust fund of the deferred compensation plan in which the employee participates if the district determines that the transfer is in the best interest of the plan and the employee.
(b) The hospital district is not required to give notice of a transfer under Subsection (a) to the employee before the transfer occurs.
(c) Promptly after a transfer under Subsection (a) occurs, the hospital district shall give to the employee a notice that:
(1) states the reason for the transfer; and
(2) requests that the employee promptly designate another qualified investment product to receive the transferred amount.
Notes and commentary — not statutory text
History
Added by Acts 2019, 86th Leg., R.S., Ch. 1246 (H.B. 2477), Sec. 2, eff. June 14, 2019.
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 18d0f362d60467694687709c7cd81902b7fb619e12af6ae7f66510da3921c534
- 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
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.