Texas Government Code 855.319 – Payment to Formerly Participating Municipality
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Terms Used In Texas Government Code 855.319
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
If a participating municipality has no employees who are members of the retirement system and has no present or potential liabilities resulting from the participation of former employees, the municipality’s participation in the system stops and the system shall repay to the municipality on application any amount in the benefit accumulation fund that is credited to the municipality.