Sec. 2256.021. EFFECT OF LOSS OF REQUIRED RATING. An investment that requires a minimum rating under this subchapter does not qualify as an authorized investment during the period the investment does not have the minimum rating. An entity shall take all prudent measures that are consistent with its investment policy to liquidate an investment that does not have the minimum rating.
Added by Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. 1, 1995.
Section: Previous 2256.019 2256.020 2256.0201 2256.0202 2256.0203 2256.0204 2256.0205 2256.021 2256.022 2256.023 2256.024 2256.025 2256.026 2256.051 2256.052 NextLast modified: September 28, 2016