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<br />GENERU GOVER~~IE~l'
<br />Ch. 2256
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<br />(1) equally of panicipants in the pool and other persons who do not have a
<br />business relationship with the pool and are qualifie~ to advise the pool, for a
<br />public funds investment pool created under Chapter 791 and managed by a
<br />state a2:encv; or
<br />... .
<br />
<br />.-""....
<br />
<br />S 2256.017
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<br />(2) of participants i~ the pool and other persons who do not have a
<br />business relationship with the pool and are qualified to advise the pool, for
<br />other investment pools.
<br />
<br />(h) To maintain eli2:ibilirv to receive funds from and invest funds on behalf of
<br />... .
<br />
<br />an entity under this chapter, an investment pool must be continuously rated no
<br />lower than AAA or AAA.-m or at an equivalent rating by at least one nationally
<br />recornized ratin2: service.
<br />... ...
<br />
<br />Amended by Acts 1995, i4th Leg., ch, 402, 9 1. eft. Sept. 1, 1995: Acts 1997, iSm Leg..
<br />ch, 1421, S 9, eft. Sept. 1. 199i.
<br />
<br />Historical and Statutory Notes
<br />
<br />ActS 1997. 75th leg.. cn. 1421 added subsecs. Ac~ 1989, i1s! Leg.. ch, 693. 9 2.
<br />(0 LO (h). Acrs 1993, 73rd Leg., ch, 946, S 1.
<br />For application provisions of ActS 1997. i5th Vernon's Ann.CiV.SL a:-..s. 8423.-2, 9 3(a) to
<br />Lc2., ch. 1421. see notes followin2 V.le.A.. (c). (e) to (g); 4413(3~c). 9 6(b).
<br />Go~'ernme:1t Code 9 2256.002. W Ac~ 1995. 74th Leg.. ch, i6. 9 5.45(e), (f).
<br />Acts 1995. 74th Leg.. cn. 402. S 5.
<br />Acts 1993, 73rd Le2.. cn. 268. 9 1.
<br />V.T.C.A.. Gove~em Code S9 2156.013,
<br />2.,-. 0.'
<br />_.)0. ::0.
<br />
<br />Prior Laws:
<br />Ac:.s 19i9. 66th Leg., p. 20il, ch, 810.
<br />ACtS'198i. iOth Leg.. ch, 889.
<br />
<br />S 2256.017. Existing Investments
<br />
<br />An entity is not required to liquidate investments that were authorized
<br />investments at the time of purchase.
<br />
<br />Added by Acts 1995, i4th'Leg., ch. i6, 9 5.46(a), eff. Sept. 1. 1995: Acts 1995, i4th Leg.,
<br />ch, 402. S 1. eft. Sept. 1. 1995. Amended by Acts 199i, iSth Leg., ch. 1421, S 10. err.
<br />Sept 1. 199i.
<br />
<br />Historical and Statutory Notes
<br />
<br />,
<br />.,
<br />
<br />ActS 1995. 74th Leg.. ch. i 6, 9 5,46(a): to
<br />conform to Acts 1993. 73rd Leg., c.h. 946. S 1,
<br />added 9 2256.017. That provision did not take
<br />effec: pursuant to Acts 1995. 74th Leg.. ch, 402.
<br />9 6. which provides:
<br />
<br />"As provided by Section 1.02. Sc:naLe Bill No.
<br />959, [ch. 76] ActS of the i4th Legislature. Regu.
<br />br St:ssion. 1995, this Act controls over Senate
<br />Bill No. 959 to the extent of any conflict."
<br />
<br />ActS 199i, 75th Leg.. ch, 1421. in the section
<br />he~ding. substituted "E.'tisting InveslIne:1ts" for
<br />"Portfolio of Ceruin Invesunem Pools", and
<br />rewrote the sed on. which previously reJd:
<br />
<br />":\ public funds invesonent pool creJted to
<br />func:ion as J money market mutual fund must
<br />mJrk its ponfoHo to market dJily and. to the
<br />
<br />. .
<br />r"'~",''''
<br />
<br />exte::n reasonably possible, stabilize at a S 1 Di:~
<br />asset value. If the ratio of the market value of
<br />the portfolio divided by the book value of the
<br />pO'rUolio is less than 0.995 or greater than
<br />1.005, portfolio holdings shall be sold as neces-
<br />sary to maintain the ratio berwee:1 0.995 and
<br />1.005. "
<br />
<br />For applic:ltion provisions of ActS 199i, 75ul
<br />Leg.. ch. 1421. see notes following Y.T. C.A.,
<br />Government Code 9 2256.002.
<br />
<br />Prior uws:
<br />
<br />ActS 1993. i3rd Le2.. CJ. 858. 9 1.
<br />Yernon's Ann.Civ.SwL art. 842J.-2. 9 2(e).
<br />Acts 1-995. i4th Leg.. CJ. 76. 9 5,46(b).
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