Sec. 54.708. CONTRIBUTIONS AND WITHDRAWALS. (a) Contributions to a savings trust account may be made only in cash or by electronic funds transfer. An employee of the state or a political subdivision of the state may make contributions to a savings trust account by payroll deductions made by the appropriate officer of the state or political subdivision.
(b) An account owner may withdraw all or part of the balance of an account on prior notice as authorized by board rules.
(c) Repealed by Acts 2019, 86th Leg., R.S., Ch. 903 (H.B. 3655), Sec. 17, eff. June 10, 2019.
(d) Repealed by Acts 2019, 86th Leg., R.S., Ch. 903 (H.B. 3655), Sec. 17, eff. June 10, 2019.
(e) Repealed by Acts 2019, 86th Leg., R.S., Ch. 903 (H.B. 3655), Sec. 17, eff. June 10, 2019.
(f) Repealed by Acts 2019, 86th Leg., R.S., Ch. 903 (H.B. 3655), Sec. 17, eff. June 10, 2019.
Added by Acts 2001, 77th Leg., ch. 1250, Sec. 1, eff. June 15, 2001.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 903 (H.B. 3655), Sec. 6, eff. June 10, 2019.
Acts 2019, 86th Leg., R.S., Ch. 903 (H.B. 3655), Sec. 7, eff. June 10, 2019.
Acts 2019, 86th Leg., R.S., Ch. 903 (H.B. 3655), Sec. 17, eff. June 10, 2019.
Structure Texas Statutes
Subtitle A - Higher Education in General
Subchapter G. Higher Education Savings Plan
Section 54.702. Powers and Duties of Board
Section 54.703. Operation of Plan; Accounts Held in Trust
Section 54.704. Selection of Financial Institution as Plan Manager
Section 54.705. Duties of Plan Manager
Section 54.706. Contract Between Board and Plan Manager
Section 54.707. Savings Trust Accounts
Section 54.708. Contributions and Withdrawals
Section 54.709. Administration of Accounts
Section 54.710. Plan Limitations
Section 54.711. No Promise of Admission, Enrollment, or Graduation
Section 54.712. Residency Not Required
Section 54.714. Confidentiality of Records
Section 54.715. Termination or Modification of Plan
Section 54.716. Effect of Termination of Plan on Savings Trust Agreement