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in the execution of the officer's duties under this chapter. <br />Amended by Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. 1, <br />1995; Acts 1999, 76th Leg., ch. 1454, Sec. 2, eff. Sept. 1, 1999. <br />Sec. 2256.004. APPLICABILITY. (a) This subchapter does <br />not apply to: <br />(1) a public retirement system as defined by Section <br />802.001; <br />(2) state funds invested as authorized by Section <br />404.024; <br />(3) an institution of higher education having total <br />endowments of at least $95 million in book value on May l, 1995; <br />(4) funds invested by the Veterans' Land Board as <br />authorized by Chapter 161, 162, or 164, Natural Resources Code; <br />(5) registry funds deposited with the county or <br />district clerk under Chapter 117, Local Government Code; or <br />(6) a deferred compensation plan that qualifies under <br />either Section 401(k) or 457 of the Internal Revenue Code of 1986 <br />(26 U.S.C. Section 1 et seq. as amended. <br />(b) This subchapter does not apply to an investment donated <br />to an investing entity for a particular purpose or under terms of <br />use specif ied by the donor. <br />Amended by Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. l, <br />1995; Acts 1997, 75th Leg., ch. 505, Sec. 24, eff. Sept. 1, 1997; <br />Acts 1997, 75th Leg., ch. 1421, Sec. 2, eff. Sept. 1, 1997; Acts <br />1999, 76th Leg., ch. 62, Sec. 8.21, eff. Sept. l, 1999; Acts 1999, <br />76th Leg. , ch. 1454, Sec. 3, eff. Sept. 1, 1999. <br />Sec. 2256.005. INVESTMENT POLICIES; INVESTMENT <br />STRATEGIES; INVESTMENT OFFICER. (a) The governing body of an <br />investing entity shall adopt by rule, order, ordinance, or <br />resolution, as appropriate, a written investment policy regarding <br />the investment of its funds and funds under its control. <br />(b) The investment policies must: <br />(1) be written; <br />(2) primarily emphasize safety of principal and <br />liquidity; <br />4 <br />