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Texas Business Organizations Code - BUS ORG § 22.403. Contributions

Current as of January 01, 2024 | Updated by FindLaw Staff

(a) A church benefits board may provide for:

(1) the collection of contributions and other payments to assist in providing pensions and benefits under this subchapter; and

(2) the creation, maintenance, investment, management, and disbursement of necessary annuities, endowments, reserves, or other funds for a purpose under Subdivision (1).

(b) A church benefits board may receive payments from a trust fund or corporation that funds a church plan as defined by Section 414(e), Internal Revenue Code.

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Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 22.403. Contributions - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-22-403/

Read this complete Texas Business Organizations Code - BUS ORG § 22.403. Contributions on Westlaw. Westlaw subscription required.

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