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345 GENERAL GOLEMINIEV•T 3 226.005 =- Ch. 2256 -' local government, or investment pool as investment officer to be.responsible for the investment of its funds consistent with the investment policy adopted by the entity. Authority granted to a person to invest an entity's funds is- effective. until rescinded by the investing entity or until termination of the person's employ- s- ment by the investin; entity. - In the administration of.: the duties of an': investment officer, the person designated as investment officer shall exercise the judgment and care, under prevailing circumstances, that a prudent person would exercise in the management of the person's own 2Lffairs. - Unless- autho rized by law, a person may not deposit, withdraw, transfer, or manage in any other manner the funds of the investinz entirv. (g) Subsection (f) does not apply to a state agency, local government, or investment pool for which an officer of the entity is assigned by law the function of investine its funds. - Text of subsec. (h) as amended by Acts 1997, 75th Leg., ch. 685, 6 1 (h) 'An officer or employee of a commission created under Chapter." 91, Local Government Code, is ineligible to be an investment officer for the commission under Subsection (f) if the officer or employee is an investment officer designat- ed under Subsection (f) for another local government. Te.:t of subsec. (h) as amended by Acts 1997, i3th Leg., ch. 1='21, s 3 (h) An officer or employee of a commission created under Chapter 391, Local Government Code, is ineligible to be designated as an investment. officer under Subsection (f) for anv investin; entity other than for that commission. W An investment officer of an entity who has x personal business relation ship with a business organization offering to engage in an investment transac- tion with the entity shall file a statement disclosing that personal business interest. An investment officer who is related within the second degree by affinity or consanguinitv,• as determined under Chapter 373, to an individual seeking to sell an investment to the investment officer's entity shall file a statement disclosing that relationship. A statement required under this subsec- lion must be filed with the Texas Ethics Commission and the zoverning �bodv of the entity. For purposes of this subsection, an investment officer has a personal- business relationship with a business organization if: (1). the investment officer owns 10 percent or more of the voting stock or shares of the business organization or owns 53,000 or more of the fair market value of the business organization; (2) funds' received by the investment officer from the business. organization exceed 10 percent• of the investment officer's gross- income for the previous year: or (3) the investment officer has acquired from the business organization during the previous year investments with a book value of S2,500 or more for the personal account of the investment officer. (j) The Governing body of an investing entity may specuy in its investment policy that anv investment authorized by this. chapter is not suitable. "'"'�