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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 1, 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 specified by the donor.
<br />Amended by Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. 1,
<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. 1, 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;
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