Texas § 606.025 GUARANTEES FOR PAYMENT.

Texas Statutes

§ 606.025 — GUARANTEES FOR PAYMENT.

Texas § 606.025

Code GVGovernment Code

This text of Texas § 606.025 (GUARANTEES FOR PAYMENT.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Government Code Code Ann. § 606.025 (2026).

Text

Sec. 606.025. GUARANTEES FOR PAYMENT. The retirement system by rule may require guarantees to create adequate security that a political subdivision will be financially responsible for its payments for at least the minimum period required by federal requirements to precede social security coverage cancellation. The guarantees may be in the form of:

(1)surety bonds;

(2)advance payments into an escrow account;

(3)detailed representations and assurances of priority dedication; or

(4)another legal undertaking.

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Sec. 606.025. GUARANTEES FOR PAYMENT. The retirement system by rule may require guarantees to create adequate security that a political subdivision will be financially responsible for its payments for at least the minimum period required by federal requirements to precede social security coverage cancellation. The guarantees may be in the form of:
(1) surety bonds;
(2) advance payments into an escrow account;
(3) detailed representations and assurances of priority dedication; or
(4) another legal undertaking.