Section 609.003 - Qualified Investment Product(a) To be classified as a qualified investment product for a deferred compensation plan, an investment product must be approved by the plan administrator to receive investments under the plan. The approval of an investment product for a 457 plan must be in writing.(b) The approval of an investment product for a 401(k) plan of a political subdivision, group of political subdivisions, an institution of higher education, or a group of institutions of higher education, or for a 457 plan of an institution of higher education or group of institutions of higher education, must be in accordance with a contract between the plan administrator and a qualified vendor.(c) A qualified investment product may be offered only by a qualified vendor of the deferred compensation plan.Tex. Gov't. Code § 609.003
Amended by Acts 2003, 78th Leg., ch. 1266, Sec. 2.03, eff. 1/1/2004.Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. 9/1/1993.