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<br />(b) The Texas Higher Education Coordinating Board shall <br /> <br />provide the training under this section. <br /> <br /> <br />(c) Training under this section must include education in <br /> <br /> <br />investment controls, security risks, strategy risks, market risks, <br /> <br />diversification of investment portfolio, and compliance with this <br />chapter. <br />(d) An investment officer shall attend a training session not <br /> <br />less than once in a two-year period and may receive training from <br /> <br />any independent source approved by the governing body of the state <br />agency. The investment officer shall prepare a report on this <br />subchapter and deliver the report to the governing body of the <br />state agency not later than the 180th day after the last day of <br /> <br />each regular session of the legislature. <br /> <br />Amended by Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. 1, <br />1995; Acts 1997, 75th Leg., ch. 73, Sec. 1, eff. May 9, 1997; <br />Acts 1997, 75th Leg., ch. 1421, Sec. 4, eff. Sept. 1, 1997; Acts <br />1999, 76th Leg., ch. 1454, Sec. 5, eff. Sept. 1, 1999. <br />Sec. 2256.008. INVESTMENT TRAINING; LOCAL GOVERNMENTS. (a) <br />Except as provided by Subsections (b) and (e), the treasurer, the <br />chief financial officer if the treasurer is not the chief financial <br />officer, and the investment officer of a local government shall: <br />(1) attend at least one training session from an <br />independent source approved by the governing body of the local <br />government or a designated investment committee advising the <br /> <br />Page -15 - <br />