Tex. Gov't Code § 608.007

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 608.007 - Trust Account

(a) A department administrator shall deposit money received under Section 608.005(a) with the comptroller to be held in trust by the comptroller until disbursed by the department administrator to purchase savings bonds for an individual designated in an authorization under Section 608.002 filed with the department administrator.

(b) A disbursing officer shall deposit money received under Section 608.005(b) with the comptroller of the political subdivision to be held in trust by the comptroller until disbursed by the disbursing officer to purchase savings bonds for an individual designated in an authorization under Section 608.002 filed with the disbursing officer.

(c) Money held in trust under this section shall be deposited in an account designated as the savings bond payroll savings account.

Tex. Gov't. Code § 608.007

Amended By Acts 1999, 76th Leg., ch. 1467, Sec. 1.25, eff. 6/19/1999.

Amended by Acts 1997, 75th Leg., ch. 1423, Sec. 8.41, eff. 9/1/1997

Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. 9/1/1993.