205.022 – DURATION AND TERMINATION OF GROUP ACCOUNT. (a)
Texas Labor Code § 205.022
Summary
This law mandates that a group account must be maintained for a minimum of two years. After this period, the account can be terminated either by the commission's discretion or upon request from the group, with termination effective at the start of the following year.
Group accounts must last at least two years.
Termination can occur after the initial two-year period.
Termination takes effect on January 1 of the following year.
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In simple terms: Learn about Texas's DURATION AND TERMINATION OF GROUP ACCOUNT. (a) 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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