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Texas Business Organizations Code

§ 22.403 — CONTRIBUTIONS

BO § 22.403Title 2. CORPORATIONS · Ch. 22. NONPROFIT CORPORATIONS · Art. I. CHURCH BENEFITS BOARDS

Statute text

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(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.

Legislative history

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.

Source: Texas Business Organizations Code § 22.403 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.