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342
<br />2236.002
<br />GOVERr MEI U CODE
<br />Title 10
<br />(A) for a business organization doing business.-that is regulated by or
<br />registered with a securities commission, a person who is registered under
<br />the rules of the National Association of Securities Dealers;
<br />(B) for a state or federal bank, a savings bank, or a state or federal credit
<br />union, a member of the loan committee for the bank or branch ciT the bank
<br />or a person authorized by corporate resolution to act on behalf of and bind
<br />the banking institution; or
<br />(C) for an investment pool, the person authorized by the elected official
<br />or board with authority to administer the activities of the investment pool
<br />to sierra the written instrument on behalf of the investment pool.
<br />(11) "School district" means a public school district.
<br />(12) "Separately invested asset"- means an account or fund of a state
<br />agency or local government that is not invested in a pooled fund croup.
<br />(13) "State agency" means an office, department, commission, board, or
<br />other agency that is part of any branch of state dove.. �unent, an institution of
<br />higher education, and any nonprofit corporation acting on behalf of anv of
<br />those entities. -
<br />Amended by Acts 1095, 74th Leg., ch. 402, § 1, eh". Sept. 1, 1995; Acts 1997. 75th Leg.,
<br />ch. 1421, § -1, eff. Sept. 1, 1997.
<br />Historical and Statutory Notes
<br />Acs 1997. 75th Leg.. eh. 1421, in subd. (2),
<br />substituted "original acquisition cost' for -face
<br />or par value ", deleted -accrued interest-. and
<br />inserted "the accrued ": in subd. (8), inserted
<br />"current and substituted "net selling price of
<br />the secur ry as quoted by a recognized mar):e:
<br />pricing source" for - premium or discount ": in-
<br />serted new subd. (10): znd redesignated former
<br />subds. (10) to (12) u subds. (11) to (13) respcc-
<br />tively.
<br />Section 16 of Acts 1997, 75th Lee., ch. 1421
<br />provides:
<br />'This Act takes effect September 1. 1997, and
<br />applies only to investment activities of a govern-
<br />mental entity subject to Chapter 2256. Govern-
<br />ment Code, that occur on or after that date."
<br />Prior Laws:
<br />Acs 1979, 66th Leg., p. 2071, c' n. 310.
<br />Acts 1987, 70th Leg., ch. 889.
<br />Acts 1989, 71st Leg- ca. 39.1 1.
<br />Acts 1989, 71st Lce., ch. 628. § 1.
<br />Acs 1989. 71st Leg., eh. 693, § 4.
<br />Acts 1989, 71st Leg., eh. 750, § 1.
<br />Aces 1993. 73rd Leg., ch. 946. § 1.
<br />Vernon's Ann.CiV.St. arts. 842a -2. § 2(a),
<br />(c)(4); 4413(34c), § 1.
<br />Acts 1993, 73rd Leg..-ch. 268. § 1.
<br />Ac u 1995. 74th Leg., ch. 76. § 5.45(e). (f).
<br />V.T.C.A.. Govc.nmc* nt Code §§ 2256.002,
<br />2256.051.
<br />§ 2256.003. Authority to Invest Funds; Entities Subject to this Chapter
<br />• Each governing body, of the following entities may purchase, sell, and invest
<br />its funds and funds under its control in investments authorized under this
<br />subchapter in compliance with investment policies approved by the goverriing.
<br />body and according to the standard of care prescribed by Section 2256.006:
<br />(1) a local government;
<br />(2) a state agency;
<br />V,
<br />(3) a nonprofit corporation acting on behalf of a local Bove: ent or a
<br />' state agency; or "" _
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