Texas Government Code Title 10, Chapter 2256 - Public Funds Investment
SUBCHAPTER A AUTHORIZED INVESTMENTS FOR GOVERNMENTAL ENTITIES
- Texas Section 2256.001 - Short Title
This chapter may be cited as the Public Funds Investment Act. Amended by Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. 1, 1995.
- Texas Section 2256.002 - Definitions
In this chapter: (1) "Bond proceeds" means the proceeds from the sale of bonds, notes, and other obligations issued by an entity, and reserves and...
- Texas Section 2256.003 - Authority To Invest Funds; Entities Subject To This Chapter
(a) Each governing body of the following entities may purchase, sell, and invest its funds and funds under its control in investments authorized under this...
- Texas Section 2256.004 - Applicability
(a) This subchapter does not apply to: (1) a public retirement system as defined by Section 802.001; (2) state funds invested as authorized by Section...
- Texas Section 2256.005 - Investment Policies; Investment Strategies; Investment Officer
(a) The governing body of an investing entity shall adopt by rule, order, ordinance, or resolution, as appropriate, a written investment policy regarding the investment...
- Texas Section 2256.006 - Standard Of Care
(a) Investments shall be made with judgment and care, under prevailing circumstances, that a person of prudence, discretion, and intelligence would exercise in the management...
- Texas Section 2256.007 - Investment Training; State Agency Board Members And Officers
(a) Each member of the governing board of a state agency and its investment officer shall attend at least one training session relating to the...
- Texas Section 2256.008 - Investment Training; Local Governments
Sec. 2256.008. INVESTMENT TRAINING; LOCAL GOVERNMENTS. Text of subsection as amended by Acts 2015, 84th Leg., R.S., Ch. 222 (H.B. 1148), Sec. 1 (a) Except...
- Texas Section 2256.009 - Authorized Investments: Obligations Of, Or Guaranteed By Governmental Entities
(a) Except as provided by Subsection (b), the following are authorized investments under this subchapter: (1) obligations, including letters of credit, of the United States...
- Texas Section 2256.010 - Authorized Investments: Certificates Of Deposit And Share Certificates
(a) A certificate of deposit or share certificate is an authorized investment under this subchapter if the certificate is issued by a depository institution that...
- Texas Section 2256.011 - Authorized Investments: Repurchase Agreements
(a) A fully collateralized repurchase agreement is an authorized investment under this subchapter if the repurchase agreement: (1) has a defined termination date; (2) is...
- Texas Section 2256.0115 - Authorized Investments: Securities Lending Program
(a) A securities lending program is an authorized investment under this subchapter if it meets the conditions provided by this section. (b) To qualify as...
- Texas Section 2256.012 - Authorized Investments: Banker's Acceptances
A bankers' acceptance is an authorized investment under this subchapter if the bankers' acceptance: (1) has a stated maturity of 270 days or fewer from...
- Texas Section 2256.013 - Authorized Investments: Commercial Paper
Commercial paper is an authorized investment under this subchapter if the commercial paper: (1) has a stated maturity of 270 days or fewer from the...
- Texas Section 2256.014 - Authorized Investments: Mutual Funds
(a) A no-load money market mutual fund is an authorized investment under this subchapter if the mutual fund: (1) is registered with and regulated by...
- Texas Section 2256.015 - Authorized Investments: Guaranteed Investment Contracts
(a) A guaranteed investment contract is an authorized investment for bond proceeds under this subchapter if the guaranteed investment contract: (1) has a defined termination...
- Texas Section 2256.016 - Authorized Investments: Investment Pools
(a) An entity may invest its funds and funds under its control through an eligible investment pool if the governing body of the entity by...
- Texas Section 2256.017 - Existing Investments
An entity is not required to liquidate investments that were authorized investments at the time of purchase. Added by Acts 1995, 74th Leg., ch. 76,...
- Texas Section 2256.019 - Rating Of Certain Investment Pools
A public funds investment pool must be continuously rated no lower than AAA or AAA-m or at an equivalent rating by at least one nationally...
- Texas Section 2256.020 - Authorized Investments: Institutions Of Higher Education
In addition to the authorized investments permitted by this subchapter, an institution of higher education may purchase, sell, and invest its funds and funds under...
- Texas Section 2256.0201 - Authorized Investments; Municipal Utility
(a) A municipality that owns a municipal electric utility that is engaged in the distribution and sale of electric energy or natural gas to the...
- Texas Section 2256.0202 - Authorized Investments: Municipal Funds From Management And Development Of Mineral Rights
(a) In addition to other investments authorized under this subchapter, a municipality may invest funds received by the municipality from a lease or contract for...
- Texas Section 2256.0203 - Authorized Investments: Ports And Navigation Districts
(a) In this section, "district" means a navigation district organized under Section 52, Article III, or Section 59, Article XVI, Texas Constitution. (b) In addition...
- Texas Section 2256.0204 - Authorized Investments: Independent School Districts
(a) In this section, "corporate bond" means a senior secured debt obligation issued by a domestic business entity and rated not lower than "AA-" or...
- Texas Section 2256.0205 - Authorized Investments; Decommissioning Trust
(a) In this section: (1) "Decommissioning trust" means a trust created to provide the Nuclear Regulatory Commission assurance that funds will be available for decommissioning...
- Texas Section 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...
- Texas Section 2256.022 - Expansion Of Investment Authority
Expansion of investment authority granted by this chapter shall require a risk assessment by the state auditor or performed at the direction of the state...
- Texas Section 2256.023 - Internal Management Reports
(a) Not less than quarterly, the investment officer shall prepare and submit to the governing body of the entity a written report of investment transactions...
- Texas Section 2256.024 - Subchapter Cumulative
(a) The authority granted by this subchapter is in addition to that granted by other law. Except as provided by Subsection (b), this subchapter does...
- Texas Section 2256.025 - Selection Of Authorized Brokers
The governing body of an entity subject to this subchapter or the designated investment committee of the entity shall, at least annually, review, revise, and...
SUBCHAPTER B MISCELLANEOUS PROVISIONS
- Texas Section 2256.026 - Statutory Compliance
All investments made by entities must comply with this subchapter and all federal, state, and local statutes, rules, or regulations. Added by Acts 1997, 75th...
- Texas Section 2256.051 - Electronic Funds Transfer
Any local government may use electronic means to transfer or invest all funds collected or controlled by the local government. Amended by Acts 1995, 74th...
- Texas Section 2256.052 - Private Auditor
Notwithstanding any other law, a state agency shall employ a private auditor if authorized by the legislative audit committee either on the committee's initiative or...
- Texas Section 2256.053 - Payment For Securities Purchased By State
The comptroller or the disbursing officer of an agency that has the power to invest assets directly may pay for authorized securities purchased from or...
- Texas Section 2256.054 - Delivery Of Securities Purchased By State
A security purchased under this chapter may be delivered to the comptroller, a bank, or the board or agency investing its funds. The delivery shall...
- Texas Section 2256.055 - Deposit Of Securities Purchased By State
At the direction of the comptroller or the agency, a security purchased under this chapter may be deposited in trust with a bank or federal...
Last modified: September 28, 2016