(a) After a plan administrator approves an application of a vendor to become a qualified vendor, the plan administrator shall execute a written contract with the vendor to participate in the deferred compensation plan.
(b) A plan administrator shall develop and implement criteria and procedures for evaluating a qualified vendor's investment products to determine whether those products are acceptable as qualified investment products.
(c) A qualified vendor may offer to employees participating in a 457 plan only qualified investment products.
Official text of the Texas Government Code as published by the Texas Legislative Council.