Sec. 609.509. CONTRACTS FOR GOODS AND SERVICES. (a) The board of trustees may contract for necessary goods and consolidated billing, accounting, and other services to be provided in connection with a deferred compensation plan.
(b) In a contract under Subsection (a), the board of trustees may provide for the board to audit periodically the person with whom the contract is made. The audit may cover:
(1) the proper handling and accounting of state or trust funds; and
(2) other matters related to the proper performance of the contract.
(c) The board of trustees may contract with a private entity to conduct the audit under Subsection (b).
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993. Amended by Acts 1997, 75th Leg., ch. 1048, Sec. 40, eff. Sept. 1, 1997.
Structure Texas Statutes
Title 6 - Public Officers and Employees
Subtitle A - Provisions Generally Applicable to Public Officers and Employees
Chapter 609 - Deferred Compensation Plans
Subchapter C. Deferred Compensation Plans for Employees of State Agencies
Section 609.502. Creation of Plan; Participation
Section 609.5021. Roth Contribution Programs
Section 609.5025. Automatic Participation; Default Investment Product
Section 609.5026. State Matching Contributions
Section 609.503. Changing Amount Deferred
Section 609.504. Investment and Transfer of Deferred Amounts and Income
Section 609.505. Qualified Vendor
Section 609.506. Insurance Company as Qualified Vendor
Section 609.507. Financial Institution as Qualified Vendor
Section 609.509. Contracts for Goods and Services
Section 609.510. Exemption for Certain Contracts
Section 609.512. Deferred Compensation Plan Trust Funds
Section 609.513. Discretionary Transfer
Section 609.514. Alternative to Fund Deposit
Section 609.515. Transfer to 457 Plan of Institution of Higher Education