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Texas Finance Code - FIN § 63.006. Power to Act Under Certain Federal Retirement Plans

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

An association or a federal association, to the extent that its charter and applicable federal regulations permit, may:

(1) exercise any power necessary to qualify as a trustee or custodian for:

(A) a retirement plan meeting the requirements of 26 U.S.C. Section 401(d) or 408;  or

(B) a similar plan permitted or recognized by federal law;  and

(2) invest money the association holds as trustee or custodian under Subdivision (1) in the association's savings accounts if the plan does not prohibit that investment.

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Cite this article: FindLaw.com - Texas Finance Code - FIN § 63.006. Power to Act Under Certain Federal Retirement Plans - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-63-006/

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