Texas Education Code
§ 66.08 — INVESTMENT MANAGEMENT
ED § 66.08Title 3. HIGHER EDUCATION · Part C. THE UNIVERSITY OF TEXAS SYSTEM · Ch. 66. PERMANENT UNIVERSITY FUND · Art. A. COMPOSITION, INVESTMENT, AND USE
Statute text
View on source(a)The board may delegate investment authority for the investment of the permanent university fund to the same extent as an institution with respect to an institutional fund under Chapter 163, Property Code.
(b)The board may enter into a contract with a nonprofit corporation for the corporation to invest funds under the control and management of the board, including the permanent university fund, as designated by the board. The corporation may not engage in any business other than investing funds designated by the board under the contract.
(c)The board must approve the:
(1)articles of incorporation and bylaws of the corporation and any amendment to the articles of incorporation or bylaws;
(2)investment policies of the corporation, including changes to those policies;
(3)audit and ethics committee of the corporation; and
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Legislative history
Acts 2007, 80th Leg., R.S., Ch. 834 (H.B. 860), Sec. 3, eff. September 1, 2007. Acts 2007, 80th Leg., R.S., Ch. 834 (H.B. 860), Sec. 4, eff. September 1, 2007. Acts 2011, 82nd Leg., R.S., Ch. 335 (H.B. 2825), Sec. 1, eff. June 17, 2011. Acts 2013, 83rd Leg., R.S., Ch. 1366 (S.B. 1604), Sec. 3, eff. June 14, 2013.