Texas Government Code 609.509 – Contracts for Goods and Services
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(a) The board of trustees may contract for necessary goods and consolidated billing, accounting, and other services to be provided in connection with a deferred compensation plan.
(b) In a contract under Subsection (a), the board of trustees may provide for the board to audit periodically the person with whom the contract is made. The audit may cover:
(1) the proper handling and accounting of state or trust funds; and
(2) other matters related to the proper performance of the contract.
Terms Used In Texas Government Code 609.509
- Contract: A legal written agreement that becomes binding when signed.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
(c) The board of trustees may contract with a private entity to conduct the audit under Subsection (b).