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Tex. Gov't Code § 609.013

INABILITY TO DISTRIBUTE

Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff

If a plan administrator cannot distribute promptly an employee's deferred amounts and investment income when a distribution is due and permissible under federal law, the plan administrator shall deposit the amount to be distributed in the deferred compensation trust fund defined by Section 609.101 or described by Section 609.512, as appropriate.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.