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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) In this section:
(1) “Electronic filing” means the filing of data transmitted to the retirement system by the communication of information by facsimile or in the form of digital electronic signals transformed by computer and stored on microfilm, magnetic tape, optical disks, or any other medium.
(2) “Electronic transfer” means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, that is initiated through an electronic terminal, telephone instrument, computer, or magnetic media to order, instruct, or authorize a financial institution to debit or credit an account.
(b) The board of trustees may adopt rules and procedures relating to the electronic transfer of funds and the electronic filing of documents and required reports.
(c) Funds that are electronically transferred in accordance with those rules and procedures are considered to have been timely received by the retirement system. Documents and required reports that are electronically filed in accordance with those rules and procedures are considered to have been properly filed with the retirement system.
Cite this article: FindLaw.com - Texas Government Code - GOV'T § 845.116. Electronic Transfer of Funds and Electronic Filing of Documents - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-845-116/
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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