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<br />(A) for a business organization doing business that is regulated by or registered with a securities commission, a
<br />person who is registered under the rules of the National Association of Securities Dealers;
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<br />(B) for a state or federal bank, a savings bank, or a state or federal credit union, a member of the loan committee
<br />for the bank or branch of the bank or a person authorized by corporate resolution to act on behalf of and bind the
<br />banking institution;
<br />
<br />(C) for an investment pool, the person authorized by the elected official or board with authority to administer the
<br />activities of the investment pool to sign the written instrument on behalf of the investment pool; or
<br />
<br />(D) for an investment management firm registered under the investment Advisers Act of 1940 (15 U.S.C. Section
<br />80b-1 et seq.) or, if not subject to registration under that Act, registered with the State Securities Board, a person
<br />who is an officer or principal of the investment management firm.
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<br />(II) "School district" means a public school district.
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<br />(12) "Separately invested asset" means an account or fund of a state agency or local government that is not invested
<br />in a pooled fund group.
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<br />(13) "State agency" means an office, department, commission, board, or other agency that is part of any branch of
<br />state government, an institution of higher education, and any nonprofit corporation acting on behalf of any of those
<br />entities.
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<br />Amended by Acts 1995, 74th Leg., ch. 402, ~ 1, eff. Sept. 1, 1995; Acts 1997, 75th Leg., ch. 1421, ~ 1, eff. Sept. 1,
<br />1997; Acts 1999, 76th Leg., ch. 1454, ~ 1, eff. Sept. 1, 1999.
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<br /><General Materials (GM) - References, Annotations, or Tables>
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<br />REVISOR'S NOTE
<br />2000 Main Volume
<br />
<br />The definition of "school district" is added to the revised law for drafting convenience.
<br />
<br />HISTORICAL AND STATUTORY NOTES
<br />2000 Main Volume
<br />
<br />Acts 1997, 75th Leg., ch. 1421, in subd. (2), substituted "original acquisition cost" for "face or par value", deleted
<br />"accrued interest", and inserted "the accrued"; in subd. (8), inserted "current", and substituted "net selling price of
<br />the security as quoted by a recognized market pricing source" for "premium or discount"; inserted new subd. (10);
<br />and redesignated former subds. (10) to (12) as subds. (11) to (13) respectively.
<br />
<br />Section 16 of Acts 1997, 75th Leg., ch. 1421 provides:
<br />
<br />"This Act takes effect September 1, 1997, and applies only to investment activities of a governmental entity subject
<br />to Chapter 2256, Government Code, that occur on or after that date."
<br />
<br />Acts 1999, 76th Leg., ch. 1454, in subd. (10) added par. (D).
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<br />Prior Laws:
<br />Acts 1979, 66th Leg., p. 2071, ch. 810.
<br />Acts 1987, 70th Leg., ch. 889.
<br />Acts 1989, 71stLeg., ch. 39, ~ 1.
<br />Acts 1989, 71st Leg., ch. 628, ~ 1.
<br />Acts 1989, 71st Leg., ch. 693, ~ 4.
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<br />Copr. @West2001 No Claim to Orig. U.S. Govt. Works
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