Sec. 855.319. PAYMENT TO FORMERLY PARTICIPATING MUNICIPALITY. If a participating municipality has no employees who are members of the retirement system and has no present or potential liabilities resulting from the participation of former employees, the municipality's participation in the system stops and the system shall repay to the municipality on application any amount in the benefit accumulation fund that is credited to the municipality.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981. Amended by Acts 1981, 67th Leg., 1st C.S., p. 233, ch. 18, Sec. 105, eff. Jan. 1, 1982. Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 65.319 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 1208 (S.B. 350), Sec. 31, eff. June 17, 2011.
Structure Texas Statutes
Title 8 - Public Retirement Systems
Subtitle G - Texas Municipal Retirement System
Subchapter D. Management of Assets
Section 855.301. Investment of Assets
Section 855.3011. Securities Lending
Section 855.303. Prudence Regarding Investments
Section 855.305. Crediting System Assets
Section 855.306. Member's Individual Account
Section 855.307. Benefit Accumulation Fund: Current Service
Section 855.308. Benefit Accumulation Fund: Prior Service
Section 855.310. Interest Fund
Section 855.311. Endowment Fund
Section 855.313. Supplemental Disability Benefits Fund
Section 855.314. Supplemental Death Benefits Fund
Section 855.315. Disbursements
Section 855.316. Interest Rates and Crediting
Section 855.317. Annual Allocation of Net Investment Income or Loss From Interest Fund
Section 855.319. Payment to Formerly Participating Municipality