116.172[1/2] – DEFERRED COMPENSATION, ANNUITIES, AND SIMILAR
Texas Property Code § 116.172[1/2]
Summary
This law defines terms related to deferred compensation and annuities, clarifying how future payments are structured and received. It affects trustees managing such payments, ensuring they understand the nature of these financial assets.
Defines 'future payment asset' and 'payment' for legal clarity.
Applies to trustees receiving payments for services or property.
Covers payments made over time or for an individual's lifetime.
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In simple terms: Learn about Texas's DEFERRED COMPENSATION, ANNUITIES, AND SIMILAR 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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