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<br />,'GENERAL GOVERN' ~NT
<br />(Ch. 2256
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<br />~2256.054'
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<br />Historical and Statutory Notes
<br />
<br />: PrIor Laws:
<br />, Acts 1979, 66th Leg., p. 2071, ch. 810.
<br />'Vernon's Ann.Civ.St. art. 4413(34c), 9 1.
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<br />~.225,6.052. Rules Governing Investment "
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<br />':~Each state agency or political subdivision shall adopt rules governing the
<br />'investment of its local funds, including rules specifying the scope of authority of
<br />'officers and ernployees designated to invest local funds., " ," """
<br />'.' ,.;,!.',
<br />'Added by Acts 1993, 73rd Leg., ch. 268, 9 I, eff. Sept. I, 1993.
<br />
<br />Historical and Statutory Notes' "".
<br />
<br />;'Prlor, Laws: , ,', ',' Acts.1989, 7lstLeg., ch.693,,9 2.:..,.., ,:\
<br />'.'Acts 1979, 66th Leg., p. 2071,ch. BIO. Vernon's'Ann.Civ.St. art. '4413(34c), g' 2(a).
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<br />:~' 2256.053. Investment Rate of Return
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<br />A state agency, politicalsubdivisi6n, or investIrient pool shall investi~ 'lo~kl'
<br />funds in investrnents that:
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<br />(1) yield the highest possible rate, of return;
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<br />(2) protect the principal; and . - , ,,,"
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<br />(3) are consistent with the operating requirements of the agency, subdivi-"
<br />sion, or pool as determined by the governing body, "'''" ":"", , ' .:
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<br />Added by,'Aets 1993, 73rdLeg., chi 268, 9 I, erf. Sept. 1,1993. ,,'
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<br />
<br />Historical and 'Statutory Notes
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<br />,Acts .1989, 71st, Leg."ch:693i9 2. ,,' ; , ,.' i
<br />, Vernon's Ann:Civ.St. art. 4413(34c);' g' 6(8),'
<br />
<br />:,Prlor Laws: ' " ' '
<br />Acts 1979, 66th Leg., 'p. 2071,' ch. BiD:
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<br />~ 2256.054. Designation of Investment Officer
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<br />(a) Each state agency or political subdivision shall designate, by rule, order,
<br />ordinance, or resolution, one or mote officers, or ernployees of, the, agency,
<br />subdivision, orinvestrnent pool to be responsible for the investment of its iocal
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<br />funds.
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<br />(b) Subsection (a) does not apply if an officer of the agency or subdivision is
<br />'assigned by law the function of investing its local funds.
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<br />, , (c) An officer or employee of a comrnission created under Chapter 391,; Local
<br />,GoiierntiicI1t Code, is ineligiblb to oe designated as 'rill 'i'nvestrrierit 'offtcgr \h1der
<br />. ".' _ ' " . ' . : ~ ,\.I .) II. \ 1I,-I,J.
<br />, ,Subsection (a). '
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<br />'Added by Acts 1993, 73rd Leg., eh. 268, 9 I, eff. Sept. I, 1993.
<br />319,
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