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<br />S 2256.002
<br />
<br />GOVERN~lE~'T 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 Association of Securities Dealers;
<br />
<br />(B) for a state or federal bank, a savings bank, or a state or federal credit
<br />union, a member 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 />(C) for an investment pool. the person authorized by the elected official
<br />or board with authOrity to administer the activities of the invesunent 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 a~encv" means an office, depanmem, commission, board, or
<br />.. " .
<br />
<br />other agency that is pan of any branch of state government, an institution of
<br />higher education. and any nonprofit corporation acting on behalf of any of
<br />those entities.
<br />
<br />Amended bv ActS 1995, i4th Le~., en. 402, S 1, err. Seot. 1. 1995; ActS 199i, iSm Le~.,
<br />ch. 1421,S'1. eff. Sept. 1. 199i." . . ..
<br />
<br />Acts 199i, i5th Le2., ch. 1421. in sucd. (2),
<br />substituted "original acquisition cost" for "face
<br />or par value", deleted "accrued interest", and
<br />inserted "the accrued"; in subd. (8), insened
<br />"currem", and substituted "net selling price of
<br />the securin' as ouoted b... a recornized marke:
<br />pricing source" for "premium or -discount"; in.
<br />sened new subd. (10); and redesilITlated forme:
<br />subds. (0) to (12) as subds. (I 1) to (13) resoec.
<br />tive!y. .
<br />Section 16 of Acts 199i, i5th Leg., ch. 1421
<br />provides:
<br />"This Act takes effect SeDtember I, 199i, and
<br />applies only to investment activities of a govern.
<br />mental entity subject to Chapter 2256, Govern.
<br />ment Code, that occur on or after that date."
<br />
<br />Historical and Statutory Notes
<br />
<br />Prior Laws:
<br />
<br />Acts 19i9, 66tb Leg., p. 20i 1, en. S 1 O.
<br />Acts 198i, iOth Leg., ch. 889.
<br />Ac:s 1989, ilst Leg., en. 39,g 1.
<br />ActS 1989, i1st Leg., eh. 628, S 1.
<br />Acts 1989, i 1st Leg., en. 693, S 4.
<br />Acts 1989, i 1 5t Leg., ch. i50, 9 1.
<br />Acts 1993, i3rd Leg., ch. 946, S 1.
<br />Vernon's Ann.CiY.Sl am. 8~2a-2. S 2(a),
<br />(c)(4); 4413(34c), S 1.
<br />Acts 1993, i3rc LeZ.,'ch. 268. S 1.
<br />ActS 1995. i4th Leg., cn. i6, 9 5.45(e), m.
<br />V.T.C.A.. Gove:mnem Code SS 2256.002,
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<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 invesnnems authorized under this
<br />subchapter in compliance with invesnnent policies approved by the governing
<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 corporation acting on behalf of a local gove:nmenr or a
<br />
<br />........,....
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<br />state agency; or
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