Texas Labor Code 407A.353 – Refunds
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(a) The board of trustees may declare refundable any money for a fund year in excess of the amount necessary to fund all obligations.
(b) The board of trustees shall give each member a written description of the group’s refund plan at the time of application for membership.
Terms Used In Texas Labor Code 407A.353
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
- Year: means 12 consecutive months. See Texas Government Code 311.005