Tex. Gov't Code § 815.307

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 815.307 - Duty of Care

The assets of the retirement system shall be invested and reinvested without distinction as to their source in accordance with Section 67, Article XVI, Texas Constitution. A determination of whether the board of trustees has exercised prudence with respect to an investment decision must be made taking into consideration the investment of all assets of the trust or all assets of the collective investment vehicle, as applicable, over which the board has management and control, rather than considering the prudence of a single investment of the trust or the collective investment vehicle, as applicable.

Tex. Gov't. Code § 815.307

Amended by Acts 1997, 75th Leg., ch. 1048, Sec. 19, eff. 9/1/1997; Acts 2003, 78th Leg., ch. 1111, Sec. 27, eff. 9/1/2003.

Amended by Acts 1997, 75th Leg., ch. 1048, Sec. 19, eff. 9/1/1997; Acts 2003, 78th Leg., ch. 1103, Sec. 10, eff. 1/1/2004.Reenacted by Acts 2009, 81st Leg., R.S., Ch. 1308, Sec. 21, eff. 9/1/2009.

Added by Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. 9/1/1981. Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.304 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. 9/1/1989.

Added by Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. 9/1/1981. Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.304 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. 9/1/1989.