Texas § GV.855.305 - CREDITING SYSTEM ASSETS
Full text of Texas The Texas Constitution § GV.855.305 — CREDITING SYSTEM ASSETS, with citation guidance and answers to common questions.
§ GV.855.305. CREDITING SYSTEM ASSETS
CREDITING SYSTEM ASSETS. (a) The retirement system shall immediately deposit all money received by the system with a depository designated under Section 855.109 . (b) When securities of the retirement system are received, the system shall deposit the securities in trust with a depository designated under Section 855.109 . The depository shall provide adequate safe deposit facilities for the preservation of the securities. (c) All assets of the retirement system shall be credited, according to the purpose for which they are held, to one of the following funds: (1) benefit accumulation fund; (2) interest fund; (3) endowment fund; (4) expense fund; (5) supplemental disability benefits fund; or (6) supplemental death benefits fund. Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981. Amended by Acts 1981, 67th Leg., 1st C.S., p. 229, ch. 18, Sec. 97, eff. Jan. 1, 1982. Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 65.305 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989. Amended by: Acts 2011, 82nd Leg., R.S., Ch. 1208 (S.B. 350 ), Sec. 21, eff. June 17, 2011.
Frequently Asked Questions About Texas § GV.855.305
What does The Texas Constitution § GV.855.305 cover?
Section GV.855.305 ("CREDITING SYSTEM ASSETS") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § GV.855.305?
A common citation format is "The Texas Constitution § GV.855.305" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § GV.855.305 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.