Texas Education Code 54.708 – Contributions and Withdrawals
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(a) Contributions to a savings trust account may be made only in cash or by electronic funds transfer. An employee of the state or a political subdivision of the state may make contributions to a savings trust account by payroll deductions made by the appropriate officer of the state or political subdivision.
(b) An account owner may withdraw all or part of the balance of an account on prior notice as authorized by board rules.
Terms Used In Texas Education Code 54.708
- Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
(c) Repealed by Acts 2019, 86th Leg., R.S., Ch. 903 (H.B. 3655), Sec. 17, eff. June 10, 2019.
(d) Repealed by Acts 2019, 86th Leg., R.S., Ch. 903 (H.B. 3655), Sec. 17, eff. June 10, 2019.
(e) Repealed by Acts 2019, 86th Leg., R.S., Ch. 903 (H.B. 3655), Sec. 17, eff. June 10, 2019.
(f) Repealed by Acts 2019, 86th Leg., R.S., Ch. 903 (H.B. 3655), Sec. 17, eff. June 10, 2019.