Sec. 22.403. CONTRIBUTIONS. (a) A church benefits board may provide for:
(1) the collection of contributions and other payments to assist in providing pensions and benefits under this subchapter; and
(2) the creation, maintenance, investment, management, and disbursement of necessary annuities, endowments, reserves, or other funds for a purpose under Subdivision (1).
(b) A church benefits board may receive payments from a trust fund or corporation that funds a church plan as defined by Section 414(e), Internal Revenue Code.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Structure Texas Statutes
Chapter 22 - Nonprofit Corporations
Subchapter I. Church Benefits Boards
Section 22.402. Pensions and Benefits
Section 22.404. Power to Act as Trustee
Section 22.405. Documents and Agreements
Section 22.406. Indemnification
Section 22.407. Protection of Benefits