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<br />- ..~_. . - .~ --..---... . <br /> <br />.' <br /> <br />S 2256.002 <br /> <br />GOVERNMEN-r CODE <br />Title 10 <br /> <br />(A) for a business organization doing business that is regulated by or <br />registered with a securities commission, a person who is registered under <br />the rules of the National A.ssociation of Securities Dea4ers; <br /> <br />(B) for a state or federal bank, a savin~s bank, or a state or federal credit <br />union, a membez: of the loan comminee for the bank or branch of the bank <br />or a person authorized by corporate resolution to act on behalf of and bind <br />the banking institution; or <br /> <br />ee) for an investment pool. the person authorized by the elected official <br />or board with authoriry to administer the activities of the investment pool <br />to sign the wrinen instrument on behalf of the investment pool. <br /> <br />(11) "School district" means a public school district. <br /> <br />(12) "Separately invested asset". means an account or fund of a state <br />agency or local government that is not invested in a pooled fund group. <br /> <br />(13) "State al!'encv" means an office, department, commission, board, or <br />other agency th;t is 'pan of any branch of s~ate government, an institution of <br />higher education, and any nonprofit Corporation acting on behalf of any of <br />those entities. <br /> <br />__0-: <br /> <br />Amended bv Acts 1995, 74th Lee:., ch. 402, S I, eff. Seot. 1. 1995; Acts 1997, 75th Le~.. <br />cn. 1421, S '1, eff. Sept. I, 1997.- . _ <br /> <br />Historical and Statutory Notes <br /> <br />Acts 1997, 75th Leg.. ch. 1421. in subd. (2), <br />substituted "origi.nal acquisition cost" for "face <br />or par value", deleted "accrued interest", and <br />inserted "the accrued"; in subd. (8). inserted <br />"current", and substituted "net selling price of <br />the secunn' as ouoted bv a recornized market <br />pricing source" for "premium or discount"; in. <br />serted new subd. (10); and redesirnated forme~ <br />subds. (10) to (12) as subds. (II) to (13) resoec- <br />tive!)Oo . <br /> <br />Section 16 of Acts 1997, 75th Leg.. cn. 1421 <br />provides: . <br /> <br />"This Act takes effect September I, 1997. and <br />applies only to investment activities of a govern- <br />mental entity subject to Chapter 2256. Govern. <br />ment Code. that oecur on or after that date." <br /> <br />Prior Laws: <br /> <br />Acts 1979. 66th Leg.. p. 2071. cn. 810. <br />Acts 1987. 70th Leg.. ch. 889. <br />Ac!.S 1989, 71st Lez.. cn. 39:2 1. <br />Acts 1989, 71st Le;.. ch. 628. S 1. <br />Acts 1989. 71st Le;.. cn. 693. S 4. <br />Acts 1989. 71st Le;.. ch. 750. S 1. <br />Acts 1993. 73rd Le-g.. ch. 946. S 1. <br />Vernon's Ann.Civ.St. arts. 842a-2. S 2(al. <br />(C)(4): 4413(34c).2 1. <br />Acts 1993. 73rd Leg..'ch. 268. S 1. <br />Acts 1995. 74th Leg.. cn. 76. S 5.45(e). m. <br />V.T.C.A.. Gove:mnent Code 2S 2256.002. <br />2256.051. <br /> <br />J <br /> <br />~ 2256.003. Authority to Invest Funds; Entities Subject to this Chapter <br /> <br />. Each governing body of the follOWing entities may purchase, sell, and invest <br />its funds and funds under its control in investments authorized under this <br />subchapter in compliance with investment policies approved by the go.....erning <br />body and according to the standard of care prescribed by Section 2256.006: <br /> <br />(1) a local government; <br /> <br />(2) a state agency; <br /> <br />(3) a nonprofit <br />state agency; or <br /> <br />. <br /> <br />, <br /> <br />corporation acting on behalf of a local gove::nrnent or a <br />-" <br /> <br />..., ~J:_ <br />