Sec. 608.008. PURCHASE OF SAVINGS BONDS. (a) A department administrator and a disbursing officer shall use money deducted and held in trust under this chapter to purchase savings bonds on behalf of an individual who has executed an authorization under Section 608.002, in the denomination designated and authorized in the individual's authorization, when an amount sufficient to make a purchase has been withheld.
(b) A department administrator or disbursing officer, on receipt of a savings bond purchased under Subsection (a), shall immediately deliver the bond to the individual entitled to it or shall mail the bond to the address designated by the individual in the authorization.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
Structure Texas Statutes
Title 6 - Public Officers and Employees
Subtitle A - Provisions Generally Applicable to Public Officers and Employees
Chapter 608 - Payroll Deduction for Savings Bonds
Section 608.002. Authorization for Payroll Deduction
Section 608.003. Withholding; Deduction From Payroll
Section 608.005. Payment to Department Administrator or Disbursing Officer
Section 608.006. Form of Payroll
Section 608.007. Trust Account
Section 608.008. Purchase of Savings Bonds