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Texas Government Code - GOV'T § 606.025. Guarantees for Payment

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

The retirement system by rule may require guarantees to create adequate security that a political subdivision will be financially responsible for its payments for at least the minimum period required by federal requirements to precede social security coverage cancellation.  The guarantees may be in the form of:

(1) surety bonds;

(2) advance payments into an escrow account;

(3) detailed representations and assurances of priority dedication;  or

(4) another legal undertaking.

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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 606.025. Guarantees for Payment - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-606-025/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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