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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 I 80th 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, ~ I, eff. Sept. I, 1995; Acts 1997, 75th Leg., ch. 73, ~ I, eff. May 9,
<br />1997; Acts 1997, 75th Leg., ch. 1421, ~ 4, eff. Sept. I, 1997; Acts 1999, 76th Leg., ch. 1454, ~ 5, eff. Sept. I, 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 I, 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 *
<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 />* 2256.008. Investment Training: Local Governments
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<br />(a) Except as provided by Subsection (b), the treasurer, the chief financial 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 />(I) attend at least one training session from an independent source approved by the governing body of the local
<br />government or a designated investment committee advising the investment officer as provided for in the investment
<br />policy of the local government and containing at least 10 hours of instruction relating to the treasurer's or officer's
<br />responsibilities under this subchapter within 12 months after taking office or assuming duties; and
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<br />(2) except as provided by Subsection (b), attend an investment training session not less than once in a two-year
<br />period and receive not less than 10 hours of instruction relating to investment responsibilities under this subchapter
<br />from an independent source approved by the governing body of the local government or a designated investment
<br />committee advising the investment officer as provided for in the investment policy of the local government.
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<br />Copr. @ West 2001 No Claim to Orig. U.S. Govt. Works
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