Texas § GV.855.410 - INTEREST ON LATE CONTRIBUTIONS
Full text of Texas The Texas Constitution § GV.855.410 — INTEREST ON LATE CONTRIBUTIONS, with citation guidance and answers to common questions.
§ GV.855.410. INTEREST ON LATE CONTRIBUTIONS
INTEREST ON LATE CONTRIBUTIONS. (a) A participating municipality that fails to remit before the 16th day of the month all contributions required by this subchapter to be made and remitted to the retirement system by that date shall pay to the retirement system, in addition to the contributions, interest on the past-due amounts at an annual rate that is the total of the system's investment return assumption for the preceding calendar year, plus two percent. The retirement system shall notify participating municipalities of the rate of interest that will be due on late payments. (b) Payment is considered timely made if transmitted by first-class United States mail, postage prepaid, and postmarked not later than the 15th day of the month in which the payment is due. Added by Acts 1987, 70th Leg., ch. 183, Sec. 18, eff. Aug. 31, 1987. Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 65.411 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. 36, eff. June 17, 2011. SUBCHAPTER F. OPTIONAL PROGRAMS
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § GV.855.410
What does The Texas Constitution § GV.855.410 cover?
Section GV.855.410 ("INTEREST ON LATE CONTRIBUTIONS") 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.855.410?
A common citation format is "The Texas Constitution § GV.855.410" (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.855.410 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.