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<br />S 2256.018 <br />Repealed <br /> <br />uOVElt'i:ME~l' CODE <br />Title 10 <br /> <br />S 2256.018. Repealed by Acts 199i, iSth Leg., ch. 1421, 9 IS, elf. Sept. 1, <br />1997 <br /> <br />Historical and StatutorY Notes <br />The repe:lled section. providing for an ad\:iso. Acts 1993. i3rd Leg.. ch. 26S. S 1. <br />ry hoard 01 invesune~t pools. was de:ived from: Acts 1995. 74th Le2.. ch. 76. ! 5,45(e). (0. <br />AClS 19 ~7. 79th Leg.. c~. 8 ~ 9. V. T. C.A.. Gove:1lm~nt Code S 2256.0 14( d). <br />Ae:.s ]9:-,. IJrd ~eg.. en. 9"10.9 1. _ Ae:.s 199:. i4th Lee.. ch. 402. S 1. <br />Ve:-non s Ann.el\'.Sl. an. 842a-l. S9 2(eJ. :: <br />3(D. <br /> <br />S 2256.019. Rating of Certain Investment Pools <br /> <br />A public funds investment pool must be continuously rated no lower than <br />A_!t.~ or A';'~-m or at an eouivalent ratinE: bv at le::..s'L one nationalh' recomized <br />.. ..... . . w <br /> <br />r2.tin2' service or no lower than investment 2'rade bv at le2.St one nationally <br />reco8Iized ratin2: service with a wei!1hted ave~a!1e m2lUrilV no P:!'e~te: than 90 <br />.... ...... ... <br /> <br />davs. <br /> <br />A', 'b\.' T 190:: -".LL!] h "'0' t:. r:S '09- ~ "b ~ 109- <br />aaea ACtS , w. hul e_.. Cl.. ~ _, ::l' 1, ea. cOt. 1. L ,). r..I:iJe:laea y :~cr.s , '. <br />75th Le2.. ch. 1421. S 11. eft Se:>t. 1. 1997. . <br />.. . <br /> <br />Ac:.s 199i. i31h Les:.. eh. 1421 inse:1ed "or no <br />lowe:- than investrne:1t ~r2cie bv at least one <br />nationallv reeo!!nizec r;tin g se:"\'ice \.Vit.~ a <br />\~'e:g~ted' a\'e:-~ie maru:iry n-o greale:- th2.:1 90 <br />cavs . <br /> <br />Historical and Statutorv Notes <br /> <br />. <br /> <br />For applic~rion provisions of Ae:.s 1997, i5L1 <br />Leg., eh. 1421. see notes following V.T.C..-\.. <br />- - <br /> <br />Gore:-:lme:1t Code S 2~56.002. <br /> <br />S 2256.020. Authorized Investments: Institutions of Hi~her Education <br /> <br />In addition to the authori..zed invesu-ne'!lts permitted by wJs subchapte~, 2.n <br />institution of higher education may purchase, sell, and invest its funds and <br />funds under its control in the following: <br />(1) cash mana2'ement and fixed income .funds 5Donsored bv or2'anizations <br />exempt from fed~ra.1 income ta\anon unde~ Sectio~ 501 (f), Ir{tern~ Revenue <br />Code of 1986 (26 D.S.C. Se:tion 501(f)); <br />(2) ne2:otiable cenmcates of deDosit issued bv a bank that has a certificate <br />of deposit rating of at least 1 '0; the equivalent by a nationally recognized <br />credit ratin2' a2'encv or that is associated with a holdinE: comDanv havin2' a <br />""'''' .. ... ... .... <br /> <br />commercial paper raring of at least A-I, P-I, or the equivalent by a national- <br />ly recognized credit rating agency; and <br />(3) corporate bonds, debentures. or simiJardeot obligations rated by a <br />nationally recomized investment ratinE: Finn in one of the tvvo hi2:hes! lonE:- <br />' .. ... . "'.. <br /> <br />tem ratin2' cate2'ones, without rezard to 2'!'adations within those catezories. <br />...... .... ... <br /> <br /> <br />Added bv ActS 1995, 74th Lez.. ch. 401. 9 1. eff. Se:>t. 1. 1995. <br />. ... . <br /> <br />Aets 1987. iOth Le;.. e~. 889. <br />080 -] L '. ., Q ;. 1 <br />Ae:..s L.. I St eg.. en. o.....;j . <br />Ae:s 1989. i ]st Le;.. en. i50. S 1. <br /> <br />HistoriQ} and Statutory Notes <br /> <br />Acts 1993. i3ra Le!!.. en. 946. 9 1. <br />Ver;')on's Ar.:1.Civ.Swr. an. 842:1-2. 9 2(b), <br />Ac:..s 1993. i3rci..Leg.. en. 268. 9 1. <br />Ae:.s 1995. i4th Lel!.. en. i6. 9 5,4S(d). (D. <br />V.T.e.A.. GoVe:':1me:ll Code S 2256.012. <br /> <br />.. ....-_..- <br /> <br />Prior bws: <br />