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<br />under authority of this subsection may not be for a term longer <br /> <br />than two years. A renewal or extension of the contract must be <br /> <br />made by the governing body of the investing entity by order, <br /> <br />ordinance, or resolution. <br /> <br /> <br />(c) This chapter does not prohibit an investing entity or <br /> <br /> <br />investment officer from using the entity's employees or the <br /> <br /> <br />services of a contractor of the entity to aid the investment <br /> <br />officer in the execution of the officer's duties under this <br /> <br />chapter. <br /> <br /> <br />Amended by Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. 1, <br /> <br /> <br />1995; Acts 1999, 76th Leg., ch. 1454, Sec. 2, eff. Sept. 1, 1999. <br /> <br /> <br />Sec. 2256.004. APPLICABILITY. (a) This subchapter does not <br /> <br /> <br />apply to: <br /> <br />(1) a public retirement system as defined by Section <br /> <br />802.001; <br /> <br />(2) state funds invested as authorized by Section <br /> <br />404.024; <br /> <br />(3) an institution of higher education having total <br /> <br />endowments of at least $95 million in book value on May 1, 1995; <br /> <br />(4) funds invested by the Veterans' Land Board as <br /> <br />authorized by Chapter 161, 162, or 164, Natural Resources Code; <br /> <br />(5) registry funds deposited with the county or district <br /> <br />clerk under Chapter 117, Local Government Code; or <br /> <br />(6) a deferred compensation plan that qualifies under <br /> <br />Page -5 - <br />