Texas § GV.404.106 - EARNINGS
Full text of Texas The Texas Constitution § GV.404.106 — EARNINGS, with citation guidance and answers to common questions.
§ GV.404.106. EARNINGS
EARNINGS; AUTHORIZED INVESTMENTS. (a) Any net earnings of the trust company attributable to capital stock or investments of capital stock shall be credited annually to the account of the treasury and shall be allocated annually to the funds held and managed by the comptroller in accordance with Section 404.071 (a). (b) Funds held by the trust company shall be invested in obligations authorized by law for the investment of funds held and managed by the comptroller. (c) With respect to specific funds held by the trust company for a particular participant, the trust company has the same investment authority as that participant for those specific funds. (d) The trust company may hold reserve balances or securities as required by the Federal Reserve System or as required for participation in a depository trust company. Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987. Amended by Acts 1995, 74th Leg., ch. 426, Sec. 27, eff. June 9, 1995; Acts 1997, 75th Leg., ch. 1423, Sec. 7.76, eff. Sept. 1, 1997; Acts 2001, 77th Leg., ch. 1158, Sec. 25, eff. June 15, 2001.
Frequently Asked Questions About Texas § GV.404.106
What does The Texas Constitution § GV.404.106 cover?
Section GV.404.106 ("EARNINGS") 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.404.106?
A common citation format is "The Texas Constitution § GV.404.106" (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.404.106 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.