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GENERA..L GOVEMNIVIE T
<br />Ch. 2256 "-
<br />357
<br />. §.2256.017
<br />(1) equally of participants in the pool and other persons who do not have a
<br />business relationship with the pool and are qualified to advise the pool,. for a
<br />public funds investment pool created under Chapter 791 and inanaged by a
<br />state agencv; or
<br />(2) of participants in the pool and other persons who do . not have a
<br />business relationship with the pool and are qualified to advise the pool, for
<br />other investment pools.
<br />(h) To maintain eligibility to receive funds from and invest funds on behalf of
<br />an entity under this chapter, an investment pool must be continuously rated no
<br />lower than AAA or AAA -m or at an equivalent rating by at least one nationally
<br />recognized rating service. -
<br />Amended by Acts 1995, 74th Leg., ch. 402, § 1, eff. Sept. 1, 1995: Acts 1997, 75th Lea.,
<br />ch. 1421, § -9, eff. Sept. 1. 1997.
<br />Historical and Statut6ry Notes
<br />Acts 1997. 75th lez. cli. 1421 added subsecs. -
<br />(0 to (h). '
<br />For application provisions of Acts 1997. 75t+4
<br />Leg., ch. 1421. see notes following V.T.0 k.
<br />Government Code § 2256.002.
<br />Acs 1989, 71st Leg., ch. 693. § 2.
<br />Acs 1993, 73rd Leg., ch. 946, § 1.
<br />Vernon's Ann.Ciy.SL 2--,s. 842a -2. § 3(a) to
<br />(c). (c) to (g): 4413(34c). § 6(b).
<br />Acts 1995. 74th Leg., ch. 76. § 5.45(e), (f).
<br />Acts 1995, 74th Le2.. ch. 402.1 5.
<br />Prior Laws: Acts 1993. 73rd Lez.. ch: 268. § 1.
<br />Acs 1979. 66th Le?., p. 2071, ch. 810. V.T.C.A.. Goverment Code §§ 226.013,
<br />Acts' 198 7. 70th Leg., ch. 889. 226.056.
<br />§ 2256.017. Existing Investments
<br />An entity is not required to ,liquidate investments that were authorized
<br />investments at the time of purchase.
<br />Added by Acts 1995, 74th'Leg., ch. 76, § 5.46(a), eff. Sept. 1, 1995: Acts 1995, 74th Leg.,
<br />ch. 402, § 1, eft. Sept. 1, 1995. Amended by Acts 1997, 75th Leg., ch. 1421, § 10, eff.
<br />Sept. 1, 1997.
<br />Historical and Statutory Notes
<br />Acts 1995. 74th Leg.. eh. 76. § 5.46(a); to
<br />conform to Acts 1993. 73rd Leg.. ch. 946. § 1.
<br />added § 2256.017. That provision did. not take
<br />effect pursuant to Acts 1995, 74th Leg.. ch. 402,
<br />§ 6, which provides:
<br />"As provided by Section 1.02. Senate Bill NO*.
<br />959. (ch. 761 Acts of the 74th Legislature. Regu=
<br />lar Session. 1995, this Act controls over Senate
<br />Bill No. 959 to the extent of any conflict."
<br />Acts 1997. 75th Leg.. eh. 1421, in the section
<br />heading, substituted "Existing Investments" for
<br />" Portfolio of Certain Investment Pools and
<br />rewrote the section. which previously read:
<br />"A public funds investment pool created to
<br />Function as a money market mutual fund must
<br />mark its portfolio to market daily and. to the
<br />extent reasonably possible, stabilize at a 51 net
<br />asset value. If the rario of the market value of
<br />the portfolio divided by the book value of the
<br />portfolio is less than 0.995 or greater than
<br />1.005. portfolio holdings shall be sold as 6cces-
<br />sar► to maintain the ratio between 0.995 and
<br />1.005."
<br />For application provisions of Acu 1997. 75th
<br />Le;., ch. 1421, see notes following V.T.C.A.,
<br />Government Code § 2256.002.
<br />Prior Laws:
<br />.Acts 1993. 73rd Leg.. ch. 858. § 1.
<br />Vernon's Ann.Civ.SL art 842a -2. § 2(e).
<br />:� Acts 1.995. 74th Leg., ch. 76. § 5.46(b). _ -
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