Texas Government Code 865.007 – Administering System Assets
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(a) The state board shall administer all assets of the pension system. The state board is the trustee of the pension system’s assets.
(b) The state board may acquire, hold, manage, purchase, sell, assign, trade, transfer, and dispose of any security, evidence of debt, or other investment in which the pension system’s assets may be invested.
Terms Used In Texas Government Code 865.007
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Property: means real and personal property. See Texas Government Code 311.005
- Trustee: A person or institution holding and administering property in trust.
(c) The state board or the executive director may accept on behalf of the pension system gifts of money or other property from any public or private source. Money received under this subsection shall be deposited into the fund.