Texas Government Code 840.003 – Administering System Assets
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(a) All assets of the retirement system shall be credited to the trust fund provided by § 840.305. The board of trustees shall administer all assets of the retirement system. The board is the trustee of the system’s assets.
(b) The board of trustees may acquire, hold, manage, purchase, sell, assign, trade, transfer, and dispose of any security, evidence of debt, or other investment in which the retirement system’s assets may be invested.
Terms Used In Texas Government Code 840.003
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Trustee: A person or institution holding and administering property in trust.