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<br /><General Materials (GM) - References, Annotations, or Tables> <br /> <br />HISTORICAL AND STATUTORY NOTES <br />2000 Main Volume <br /> <br />Acts 1999. 76th Leg., ch. 1454 designated subsec. (a); and added subsecs. (b) and (c). <br /> <br />Prior Laws: <br />Acts 1987, 70th Leg., ch. 889. <br />Acts 1989, 71stLeg., ch. 39, ~ 1. <br />Acts 1989, 71stLeg., ch. 628, ~~ 1,2. <br />Acts 1989, 71stLeg., ch. 693, ~ 4. <br />Acts 1989, 71stLeg., ch. 750, ~ 1. <br />Vernon's Ann.Civ.St. art. 842a-2, ~~ 2(a). 5(a). <br />Acts 1993, 73rd Leg., ch. 268, ~ 1. <br />V.T.eA., Government Code ~ 2256.003. <br /> <br />LIBRARY REFERENCES <br />2000 Main Volume <br /> <br />Municipal Corporations €;= 884. <br />States €;= 124. <br />WESTLA W Topic Nos. 268, 360. <br />C.J.S. Municipal Corporations ~ 1881. <br />C.J.S. States ~ 225. <br /> <br />Texts and Treatises <br />2 Texas Jur 3d, Admin L ~ 19. <br /> <br />NOTES OF DECISIONS <br /> <br />Public funds 1 <br /> <br />1. Public funds <br /> <br />The Public Funds Investment Act, Government Code chapter 2256, subchapter A, applies only to certain public <br />funds. Public funds are those funds belonging to the state or a political subdivision that the state has collected in <br />accordance with a general law and that will be used to serve the public interest generally. A governmental entity <br />may invest under the act only public funds that, among other things, the entity is authorized to invest by a statute <br />other than the act. Op.Atty.Gen.1998, No. DM-489. <br /> <br />The Commissioner of Banking may not invest under the act [The Public Funds Investment Act, Government Code <br />chapter 2256, subchapter A] funds of a liquidated, uninsured bank or a trust company in conservatorship because the <br />funds are not public funds. Likewise, the Commissioner may not invest under the act funds of a liquidated <br />perpetual-care cemetery. The Commissioner may not invest under the act seized prepaid-funeral-contract funds, nor <br />may the Commissioner invest under the act money in the prepaid-funeral-contract guaranty fund. Finally, the <br />Commissioner may not invest travel-advance funds under the act because the Commissioner does not have the <br />statutory authority to do so. Op.Atty.Gen.1998, No. DM-489. <br /> <br />~ 2256.004. Aoolicabilitv <br /> <br />(a) This subchapter does not apply to; <br /> <br />(1) a public retirement system as defined by Section 802.001; <br /> <br />Copr. @ West 2001 No Claim to Orig. U.S. Govt. Works <br />