Texas Government Code 840.206 – Comptroller
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(a) The comptroller is the custodian of the securities, bonds, and funds of the retirement system, except as provided by § 840.3011 or 840.3012 of this subtitle.
(b) The comptroller shall pay money from the trust fund of the retirement system on warrants drawn by the state comptroller supported on vouchers signed by the executive director and the chairman of the board of trustees or their authorized representatives.
Terms Used In Texas Government Code 840.206
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
- Signed: includes any symbol executed or adopted by a person with present intention to authenticate a writing. See Texas Government Code 311.005
- sworn: includes affirm or affirmed. See Texas Government Code 312.011
(c) The comptroller annually shall furnish to the board of trustees a sworn statement of the amount of the retirement system’s assets in the comptroller’s custody.
(d) The board of trustees may, in the exercise of its constitutional discretion to manage the funds of the retirement system, select one or more commercial banks, depository trust companies, or other entities to serve as custodian of all or part of the retirement system’s assets.