Texas Insurance Code 1575.306 – Employee Contributions Property of Fund On Receipt; No Refund
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Texas Insurance Code 1575.306
- Property: means real and personal property. See Texas Government Code 311.005
- Trustee: A person or institution holding and administering property in trust.
A contribution from an active employee:
(1) is the property of the fund on receipt by the trustee; and
(2) may not be refunded to the active employee under any circumstances, including termination of employment.