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a school district, a district or authority created under Section <br />52(b)(1) or (2), Article III, or Section 59, Article XVI, Texas <br />Constitution, a fresh water supply district, a hospital district, <br />and any political subdivision, authority, public corporation, body <br />politic, or instrumentality of the State of Texas, and any <br />nonprofit corporation acting on behalf of any of those entities. <br />(8) "Market value" means the current face or par value <br />of an investment multiplied by the net selling price of the security <br />as quoted by a recognized market pricing source quoted on the <br />valuation date. <br />(9) "Pooled fund group" means an internally created <br />fund of an investing entity in which one or more institutional <br />accounts of the investing entity are invested. <br />(10) "Qualified representative" means a person who <br />holds a position with a business organization, who is authorized to <br />act on behalf of the business organization, and who is one of the <br />following: <br />(A) for a business organization doing business <br />that is regulated by or registered with a securities commission, a <br />person who is registered under the rules of the National <br />Association of Securities Dealers; <br />(B) for a state or federal bank, a savings bank, <br />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 <br />corporate resolution to act on behalf of and bind the banking <br />institution; <br />(C) for an investment pool, the person authorized <br />by the elected official or board with authority to administer the <br />activities of the investment pool to sign the written instrument on <br />behalf of the investment pool; or <br />(D) for an investment management firm registered <br />under the Investment Advisers Act of 1940 (15 U.S.C. Section 80b-1 <br />et seq.) or, if not subject to registration under that Act, <br />registered with the State Securities Board, a person who is an <br />officer or principal of the investment management firm. <br />(11) "School district" means a public school district. <br />(12) "Separately invested asset" means an account or <br />2 <br />