Texas Statutes
§ 609.513 — DISCRETIONARY TRANSFER.
Texas § 609.513
JurisdictionTexas
Code GVGovernment Code
This text of Texas § 609.513 (DISCRETIONARY TRANSFER.) 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. § 609.513 (2026).
Text
Sec. 609.513. DISCRETIONARY TRANSFER.
(a)The board of trustees 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 board of trustees determines that the transfer is in the best interest of the plan and the employee.
(b)The board of trustees 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 board of trustees 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.
Free access — add to your briefcase to read the full text and ask questions with AI
Legislative History
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
Nearby Sections
15
§ 609.001
DEFINITIONS.§ 609.002
QUALIFICATIONS FOR QUALIFIED VENDOR.§ 609.003
QUALIFIED INVESTMENT PRODUCT.§ 609.004
PERMISSIBLE USE OF PUBLIC FUNDS.§ 609.005
PLAN AS COMPENSATION.§ 609.008
CREDITING TRUST FUND INTEREST.§ 609.009
TRUST FOR 457 PLAN.§ 609.011
NOTIFICATION BY PLAN ADMINISTRATOR.§ 609.012
TRANSFER FROM A PLAN VENDOR.§ 609.013
INABILITY TO DISTRIBUTE.§ 609.014
COORDINATION OF PLANS.Cite This Page — Counsel Stack
Bluebook (online)
Texas § 609.513, Counsel Stack Legal Research, https://law.counselstack.com/statute/tx/GV/609.513.