Texas Business Organizations Code 22.403 – Contributions
Current as of: 2024 | Check for updates
|
Other versions
(a) A church benefits board may provide for:
(1) the collection of contributions and other payments to assist in providing pensions and benefits under this subchapter; and
(2) the creation, maintenance, investment, management, and disbursement of necessary annuities, endowments, reserves, or other funds for a purpose under Subdivision (1).
(b) A church benefits board may receive payments from a trust fund or corporation that funds a church plan as defined by Section 414(e), Internal Revenue Code.
Terms Used In Texas Business Organizations Code 22.403
- Internal Revenue Code: means the Internal Revenue Code of 1986, as amended. See Texas Business Organizations Code 1.002