Sec. 840.304. CASH ON HAND. (a) The board of trustees shall keep a sufficient amount of cash on hand to make payments as they become due each year under the retirement system.
(b) The amount of cash on hand may not exceed 10 percent of the total amount in the funds of the retirement system on deposit with the comptroller.
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985. Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 75.304 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989. Amended by Acts 1997, 75th Leg., ch. 1423, Sec. 8.59, eff. Sept. 1, 1997.
Structure Texas Statutes
Title 8 - Public Retirement Systems
Subtitle E - Judicial Retirement System of Texas Plan Two
Subchapter D. Management of Assets
Section 840.301. Investment of Assets
Section 840.3011. Custody and Investment of Assets Pending Transactions
Section 840.3012. Securities Lending
Section 840.3013. Nominee to Hold Securities