Tex. Gov't Code § 861.005 · Chapter 861. GENERAL PROVISIONS
NO DIVERSION OF ASSETS.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
The fund must be maintained for the exclusive benefit of members, retirees, and their beneficiaries. At no time before the termination of the fund and the satisfaction of all liabilities with respect to members, retirees, and their beneficiaries may any part of the principal of or interest from fund assets be used for or diverted to a purpose other than the exclusive benefit of the members, retirees, and their beneficiaries.
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 803 (S.B. 522), Sec. 1, eff. September 1, 2005.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.861.htm
- Text hash
- sha256 62097d0936ec32ab8ab7d6f01c2869c7571056e269498598fc238d90e8a4934b
- 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.