Sec. 855.104. ACCEPTING GIFT, GRANT, OR BEQUEST. The board of trustees shall accept a gift, grant, or bequest of money or securities:
(1) for the purpose designated by the grantor if the purpose provides an endowment or retirement benefits to some or all participating employees or annuitants of the retirement system; or
(2) if no purpose is designated, for deposit in the endowment fund.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981. Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 65.104 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
Structure Texas Statutes
Title 8 - Public Retirement Systems
Subtitle G - Texas Municipal Retirement System
Subchapter B. Powers and Duties of Board of Trustees
Section 855.101. Administration
Section 855.103. Administering System Assets
Section 855.104. Accepting Gift, Grant, or Bequest
Section 855.105. Indebtedness; Payment
Section 855.106. Grants and Payment of Benefits
Section 855.108. Designation of Authority to Sign Vouchers
Section 855.110. Adopting Rates and Tables
Section 855.111. Certification of Rates