203.102 – OBLIGATION TRUST FUND. (a) The obligation trust
Texas Labor Code § 203.102
Summary
This law establishes an obligation trust fund managed by the comptroller, designed to hold specific revenues. It allows the commission and governor to access these funds without needing legislative approval, impacting financial management related to labor compensation.
Creates a dedicated trust fund outside the state treasury.
Fund consists of specific revenue sources and surplus funds.
Allows access to funds without legislative appropriation.
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In simple terms: Learn about Texas's OBLIGATION TRUST FUND. (a) The obligation trust law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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