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<br />GENERAL GOVF~NMENT
<br />.Ch. ,2256
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<br />~.2256:006'
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<br />(4) in any cornbination of thosernethods.
<br />Added by Acts 1993, 73rd Leg., ch. 268, S I, efE. Sept. I, 1993.
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<br />PrIor Laws: .
<br />,Acts 1987, 70th Leg., ch.889.
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<br />:, ' H1sto~ical arid Stat'utory Notes""" ",.;:; .',
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<br />" ,'I ,Acts 1989, 71stLeg., ch. 628,,~'2":I; "J f..
<br />i Ve~on:s A~n:Civ.St. .a~. 8~2~~2,} ,5',:1'\'!'
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<br />~ 2256.005. Standard of Care
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<br />Investrnents shall be rnade with judgrnent and care, under prevailing circuITI-
<br />stances, that a person of pmdence; discretion,' and intelligence would exercise
<br />. in the rilimagernent of. the person's own 'affairs; not for speculation,but ,for, ','
<br />investment, considering the probable safety of capital and the probable incorne :,"
<br />to be derived. ' ,.',,'
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<br />Added bY Acts 1993, 73rd Leg:,' ch. 268,steff.'Sep't. l,lcj~3:
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<br />, "Historical and Statutory Notes
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<br />PrIor Laws:
<br />Acts 1987, 70th Leg., tho 889., , '
<br />Vernon's Ann.Civ.St. art. 842a-2, ~ 4.
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<br />Obligations of,' or Gua~anteed by, ,,;', '
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<br />'~ 2256.006~ "Authorized Investments:
<br />Governmental Entities
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<br />The following are authorized investrnents under this subchapter:.:,:
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<br />(1) obligations of the United States oritsinstmrnentalities; '. "
<br />(2) direct obligations of this state or its agencies;, .. ,
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<br />(3) collateralized rnortgage obligations directly issued ,by a federal agency: '
<br />or instmrnentality of the United States, the, underlying security for which is '
<br />guaranteed by an agency or lnstrurnentality of the U'nlled' States;' , ' .'
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<br />(4) other obligations, the prlnciparandinterest of which are unconditional- '
<br />lyguaranteed or insured by this state or the'UnllcdStates :6t its' in~trilIuez\tal- '
<br />ities; and .', ,"" , ,'.i" ','"
<br />(5) obligations of states,' agencies, 'counties, cities, ' 'and ()the~ 'pdlitical "
<br />slibdiVisions of any state rated' as: to ' investrh~n:f quality i bY'; a': nationallY' ' '
<br />recognized investrnent rating firm not less' thart A or its' equivalent. I .' >I ',i,'
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<br />Added by,Acts 1993, 73rd Leg., ch.: 268, s .1, err. Sept. I, 1993.. Amended by Acts ,1,993,
<br />73rdLeg.:ch.820,s2,efr.,Sej:lt.l,19~3,,:, I, ",', (, I""",."""
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<br />'''Historical and Statutory Notes,"
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<br />Section 3(c) of the 1993 amendatory act pro- Prior , Laws:
<br />vides: .. ," ,'" ,
<br />Acts 1987, 70th Leg., ch. 889.
<br />"If S.B. No. 248, Acts of the 73ro Legislature. ' " ,
<br />Regular Session"1993; [ch:'268] does not finally Acts 1989, 71sl. ,L~g:!. ,ch., ,39;,;~,,~: ,-,;',: I "d'",'
<br />pass or. is not'approved by the govemor"Section Acts 1989, 71~tLeg",ch};28,,~;L'i:(': "I'i("
<br />2 of this Act has no effect...' Acts 1989" 7,lstLeg./ ch.;\693,,.~,'4';'il'."'1 """ii,
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