Texas Government Code 609.714 – Contract With Qualified Vendor
Current as of: 2024 | Check for updates
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(a) After a plan administrator approves an application of a vendor to become a qualified vendor, the plan administrator shall execute a written contract with the vendor to participate in the deferred compensation plan.
(b) A plan administrator shall develop and implement criteria and procedures for evaluating a qualified vendor’s investment products to determine whether those products are acceptable as qualified investment products.
Terms Used In Texas Government Code 609.714
- Contract: A legal written agreement that becomes binding when signed.
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
(c) A qualified vendor may offer to employees participating in a 457 plan only qualified investment products.