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<General Materials (GIV) - References, Annotations, or Tables>
<br />HISTORICAL AND STATUTORY NOTES
<br />2000 Main Volume
<br />The repealed section, providing for an advisory board of investment pools, was derived from:
<br />Acts 1987, 70th Leg., ch. 889.
<br />Acts 1993, 73rd Leg., ch. 946, § 1.
<br />Vernon's Ann.Civ.St. art. 842a-2, 2(e), 3(fl.
<br />Acts 1993, 73rd Leg., ch. 268, § 1.
<br />Acts 1995, 74th Leg., ch. 76, 5.45(e), (f).
<br />V.T.C.A., Government Code $ 2256.014(d).
<br />Acts 1995, 74th Leg., ch. 402, § 1.
<br />$ 2256.019. Rating of Certain Investment Pools
<br />A public funds investment pool must be continuously rated no lower than AAA or AAA-m or at an equivalent
<br />rating by at least one nationally recognized rating service or no lower than investment grade by at least one
<br />nationally recognized rating service with a weighted average maturity no greater than 90 days.
<br />Added by Acts 1995, 74th Leg., ch. 402, § 1, eff. Sept. 1, 1995. Amended by Acts 1997, 75th Leg., ch. 1421, § 11,
<br />eff. Sept. 1, 1997.
<br /><General Materials (GIV) - References, Annotations, or Tables>
<br />HISTORICAL AND STATUTORY NOTES
<br />2000 Main Volume
<br />Acts 1997, 75th Leg., ch. 1421 inserted "or no lower than investment grade by at least one nationally recognized
<br />rating service with a weighted average maturity no greater than 90 days".
<br />For application provisions of Acts 1997, 75th Leg., ch. 1421, see notes following V.T.C.A., Government Code $
<br />2256.002.
<br />$ 2256.020. Authorized Investments: Institutions of Higher Education
<br />In addition to the authorized investments permitted by this subchapter, an institution of higher education may
<br />purchase, sell, and invest its funds and funds under its control in the following:
<br />(1) cash management and fixed income funds sponsored by organizations exempt from federal income taxation
<br />under Section 501(fl, Internal Revenue Code of 1986 (26 U. S. C. Section 501(fl);
<br />(2) negotiable certificates of deposit issued by a bank that has a certificate of deposit rating of at least 1 or the
<br />equivalent by a nationally recognized credit rating agency or that is associated with a holding company having a
<br />commercial paper rating of at least A-1, P-1, or the equivalent by a nationally recognized credit rating agency; and
<br />(3) corporate bonds, debentures, or similar debt obligations rated by a nationally recognized investment rating firm
<br />in one of the two highest long- term rating categories, without regard to gradations within those categories.
<br />Added by Acts 1995, 74th Leg., ch. 402, § 1, eff. Sept. 1, 1995.
<br /><General Materials (GIV) - References, Annotations, or Tables>
<br />Copr. C West 2001 No Claim to Orig. U. S. Govt. Works
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