Texas § GV.845.305 - CREDITING SYSTEM ASSETS
Full text of Texas The Texas Constitution § GV.845.305 — CREDITING SYSTEM ASSETS, with citation guidance and answers to common questions.
§ GV.845.305. CREDITING SYSTEM ASSETS
CREDITING SYSTEM ASSETS. (a) The retirement system shall deposit all receipts with a depository designated under Section 845.109 or a custodian designated under Section 845.302 . (b) All assets of the pension trust of the retirement system shall be credited according to the purpose for which they are held to one of the following funds: (1) employees saving fund; (2) subdivision accumulation fund; (3) closed subdivision annuity reserve fund; (4) income fund; (5) endowment fund; or (6) expense fund. (c) Amounts contributed by a subdivision to provide benefits under the optional group term life program for its participating employees and retirees shall be deposited to the optional group term life fund and maintained by the board of trustees as the optional group term life trust. Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981. Amended by Acts 1981, 67th Leg., 1st C.S., p. 215, ch. 18, Sec. 57, eff. Nov. 10, 1981. Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 55.305 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989. Amended by Acts 1997, 75th Leg., ch. 309, Sec. 22, eff. Dec. 1, 1997. Amended by: Acts 2005, 79th Leg., Ch. 506 (H.B. 633 ), Sec. 24, eff. January 1, 2006. Acts 2007, 80th Leg., R.S., Ch. 873 (H.B. 1587 ), Sec. 76, eff. January 1, 2008. Acts 2009, 81st Leg., R.S., Ch. 300 (H.B. 407 ), Sec. 29, eff. January 1, 2010. Acts 2015, 84th Leg., R.S., Ch. 303 (S.B. 463 ), Sec. 5, eff. June 1, 2015.
Frequently Asked Questions About Texas § GV.845.305
What does The Texas Constitution § GV.845.305 cover?
Section GV.845.305 ("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.845.305?
A common citation format is "The Texas Constitution § GV.845.305" (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.845.305 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.