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<br />C.J.S. Municipal Corporations S 1881.
<br />C.J.S. States S 225.
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<br />& 2256.007. Investment Training; State Agencv Board Members and Officers
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<br />(a) Each member of the governing board ofa state agency and its investment officer shall attend at least one training
<br />session relating to the person's responsibilities under this chapter within six months after taking office or assuming
<br />duties.
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<br />(b) The Texas Higher Education Coordinating Board shall provide the training under this section.
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<br />(c) Training under this section must include education in investment controls, security risks, strategy risks, market
<br />risks, diversification of investment portfolio, and compliance with this chapter.
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<br />(d) An investment officer shall attend a training session not less than once in a two-year period and may receive
<br />training from any independent source approved by the governing body of the state agency. The investment officer
<br />shall prepare a report on this subchapter and deliver the report to the governing body of the state agency not later
<br />than the 180th day after the last day of each regular session of the legislature.
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<br />Amended by Acts 1995, 74th Leg., ch. 402, S 1, eff. Sept. 1, 1995; Acts 1997, 75th Leg., ch. 73, S 1, eff. May 9,
<br />1997; Acts 1997, 75th Leg., ch. 1421, S 4, eff. Sept. 1, 1997; Acts 1999, 76th Leg., ch. 1454, S 5, eff. Sept. 1, 1999.
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<br /><General Materials (GM) - References, Annotations, or Tables>
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<br />HISTORICAL AND STATUTORY NOTES
<br />2000 Main Volume
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<br />Section 7 of the 1995 amendatory act provides:
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<br />"Each member of a governing board and each investment officer who is in office or who has assumed duties on
<br />September 1, 1995, and who would be required by Section 2256.007(a). Government Code, as amended by this Act,
<br />to attend investment training within six months after taking office or assuming duties shall attend at least one
<br />training session relating to the person's responsibilities under Chapter 2256, Government Code, that meets the
<br />requirements of that section not later than March 1, 1996."
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<br />Acts 1997, 75th Leg., ch. 73 rewrote subsec. (b), which previously read:
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<br />"The governor's office shall provide training under this section for members and officers other than members and
<br />officers of an institution of higher education. The Texas Higher Education Coordinating Board shall provide the
<br />training for members and officers of institutions of higher education."
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<br />Acts 1997, 75th Leg., ch. 1421 added subsec. (d).
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<br />For application provisions of Acts 1997, 75th Leg., ch. 1421, see notes following V.T.C.A.. Government Code I)
<br />2256.002.
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<br />Acts 1999, 76th Leg., ch. 1454, in subsec. (c) inserted "diversification of investment portfolio".
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<br />I) 2256.008. Investment Training; Local Governments
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<br />(a) Except as provided by Subsection (b), the treasurer, the chief fmancial officer if the treasurer is not the chief
<br />financial officer, and the investment officer of a local government shall:
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<br />Copr. ~ West 2001 No Claim to Orig. U.S. Govt. Works
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