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Texas Labor Code - LAB § 203.102. Obligation Trust Fund

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

(a) The obligation trust fund is a dedicated trust fund outside of the state treasury in the custody of the comptroller.  The obligation trust fund is composed of:

(1) revenue received under Section 203.105;  and

(2) any surplus revenue transferred from the compensation fund under Section 204.065.

(b) The commission and governor may use money in the obligation trust fund without legislative appropriation to pay:

(1) bond obligations and bond administrative expenses;  and

(2) principal and interest incurred on advances from the federal trust fund.

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Cite this article: FindLaw.com - Texas Labor Code - LAB § 203.102. Obligation Trust Fund - last updated January 01, 2024 | https://codes.findlaw.com/tx/labor-code/lab-sect-203-102/

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