Texas Government Code 609.703 – Designation of Plan Administrator
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(a) An institution of higher education that creates a deferred compensation plan shall designate a plan administrator for the plan.
(b) Institutions of higher education that create a single plan shall designate jointly a plan administrator for the plan.
Terms Used In Texas Government Code 609.703
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Trustee: A person or institution holding and administering property in trust.
(c) A plan administrator may be an employee, a nonprofit corporation, an individual, a trustee, a private entity, another institution of higher education, or an association of institutions of higher education.