Texas Education Code - Section 66.09. Cost Value Of Investments And Other Assets Of The Permanent University Fund
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§ 66.09. COST VALUE OF INVESTMENTS AND OTHER ASSETS OF THE
PERMANENT UNIVERSITY FUND. If substantially all of the assets of
the permanent university fund are invested in an internal
investment fund established by the board of regents of The
University of Texas System, the cost value of the permanent
university fund's investment in the commingled fund for the purpose
of Sections 18(a) and (b), Article VII, Texas Constitution, shall
be calculated by multiplying the permanent university fund's
ownership percentage in the commingled fund by the commingled
fund's net asset value at cost as determined by the board of
regents. The permanent university fund's ownership percentage of
the commingled fund shall be determined by dividing the permanent
university fund's units of participation or shares by the total
units or shares of the commingled fund.
Added by Acts 1999, 76th Leg., ch. 1467, § 1.06, eff. June 19,
1999.
Section: 66.01 66.02 66.04 66.05 66.06 66.07 66.08 66.09 66.21 66.22 66.23 66.24 66.25 66.41 66.42
Last modified: August 11, 2007
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